EPFO LATEST NEWS: Employees’ Provident Fund Organisation (EPFO) has decided to pay 8.5% (interest rate) on PF to its PF subscriber. In the Meeting of the Central Board of Trustees (CBT) on 9th September today, the interest rate on PF has been kept stable while giving relief to PF account holders. But now this interest will be in two parts. In the first phase EPFO will pay interest to its subscribers at the rate of 8.15%, the remaining 0.35% interest will be paid at the end of the year i.e. December.
In view of the decline in the stock market, the chances were that pf account holders would also get a predefined 8.5% interest rate as the PF account holders had not yet been paid interest. However, EPFO has given relief to PF account holders that now the predefined 8.5% interest rate will be given to PF account holders in this financial year.
Also Read: Download UAN Card Print | EPF Passbook Online epfindia.gov.in
CBT to be sold for interest on PF, its ETF
Employees’ Provident Fund Organisation (EPFO) had fixed 8.50% interest for the year 2019-20, but it has not yet been credited to the account of PF account holders. Epfo had a fund for 8.15% return on PF, but the remaining 0.35% pf was reported to be short of funds for interest, for which the Central Board of Trustees (CBT) will now have to sell its Exchange Traded Fund (ETF), which has been decided at today’s meeting. Let’s tell you that the first CBT wanted to sell ETF holdings in March itself, but the scheme was cancelled due to a steep fall in the market.
