Along with the central employees, now the subscribers of the Government Employees Provident Fund Organization are also going to get a big gift of Holi. The government may soon increase the interest rates on PF.
Let us tell you that the meeting of the Central Board of Trustees of EPFO will be held in Guwahati on March 12, 2022, in this meeting the interest rates can be discussed. The interest for the current financial year will be decided in the meeting of the Central Board of Trustees.
The current financial year has been difficult
After this, he will submit his recommendations to the Finance Ministry, only after that the final decision on interest rates will be taken. At the same time, if sources are to be believed, some members of CBT are also in favor of increasing the interest rate. The current financial year has been a difficult one for the EPFO. Despite this, EPFO can sell its equity investment to pay 8.5 per cent interest. Due to less options, bond investment was less than expected, due to which capital investment could not be done. EPFO invests in debt along with equity.
EPFO had given 8.5% interest to its subscribers in the financial year 2020-21. The highest interest rate was in 2015-16, when an interest of 8.80 per cent was paid to the subscriber. Now the eyes of the salaried class are on the meeting to be held on March 12. According to the Union Labor Minister, many proposals regarding interest rates can be discussed in this important meeting. Labor Minister Bhupendra Yadav said on increasing the interest rate of EPFO or keeping it constant, that this decision will be taken only on the estimate of income for the next financial year.
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