This is big news for PF account holders. The Employees’ Provident Fund Organization (EPFO) is soon going to increase the interest on the amount deposited in the PF account of the employees. The Central Board of Trustees can take a decision on this on this date.
New Delhi: The Employees’ Provident Fund Organization (EPFO) may soon take a decision to increase the interest rate on the deposited PF balance for the financial year 2021-22. The Central Board of Trustees (CBT), the decision-making body related to Employees’ Provident Fund Organization, is going to hold a meeting in Guwahati in the next month. A big decision on PF interest rate can be taken in this meeting itself.
In the Central Government, Labor Minister Bhupendra Yadav has also shared information about this. In a recent statement, he said that the decision to increase the interest rate on the deposited PF balance for the financial year 2021-22 will be taken on the basis of the estimate of income for the next financial year. It is worth noting that Bhupendra Yadav is also currently the head of the Central Board of Trustees (CBT).
The interest rate was reduced during the Corona period
In the financial year 2020-21, the interest rate on the Jam amount in the PF account was reduced to 8.5 percent. Finance Minister Nirmala Sitharaman approved this decision in October 2020.
After this decision, the interest rate on PF had reached the lowest level. Earlier in the financial year 2018-19, EPFO had given 8.65 percent interest. Earlier in the financial year 2013-14, the interest rate was reduced to 8.75 percent.
Labor Ministry shared this important information
Employees’ Provident Fund Organization (EPFO) has recently shared this important information that in November 2021, about 14 lakh employees were added. Which is 38 percent more than last year. This is 25 percent more than in October, 2021.
If we compare the employees added in the year 2021 with the previous year, there has been an increase of 3.84 lakh employees. Earlier in November, 2020, EPFO had added more than 10 lakh employees.
