Provident Fund Rate Slashed To Four-Decade Low Of 8.1%

Provident Fund Rate Slashed To 8.1%, Four-Decade Low

Employees' provident fund interest rate for 2021-22 has been slashed to 8.1 per cent.

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Employees' provident fund interest rate for 2021-22 has been slashed from the existing 8.5 per cent to 8.1 per cent for 2021-22 on Saturday.

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This is the lowest rate since 1977-78, when it was 8 per cent, labour ministry sources said.

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Once the finance ministry ratifies the board's decision, EPFO will direct its field offices to credit the interest income calculated at the new rate of 8.1 per cent for 2021-22 in the subscribers' accounts. (source: NDTV)

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In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.

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