PF Interest: Government employees can get great news soon. The government can transfer interest on PF money to PF account holders by the end of next month . Now only the seal of the Finance Ministry is being awaited. Very soon this money will come in the account of the employees.
Soon more than 6 crore people will get benefit
Let us tell you that till now no official statement has been issued by EPFO regarding transfer of interest money to PF account holders. The rate of interest available on PF has already been decided. In such a situation, it is expected that soon the money will come in the account of the employees. With the transfer of PF interest money, more than six and a half crore people will benefit.
PF Interest till date
The PF to be received by government employees has been fixed at 8.1 percent. In the year 2020-21, interest was getting on PF at the rate of 8.5 percent. There was no change in the interest rate of PF in the year 2020-21. A year earlier, in 2019-20, the interest rate on PF was reduced to 8.65 percent. In the year 2014-15, the rate was reduced to 8.75 per cent.
Employees have to contribute such percentage
The employee contributes 12% of his basic salary + dearness allowance in the employee account of the EPF scheme . If an employee is working in companies like jute, brick, bidi, then those employees will have to contribute 10%. The company also contributes only 12% to the employee’s account. Which will have to be contributed 8. 33% in EPS. The employee may continue to contribute 12 per cent of his basic pay and dearness allowance . The contribution amount in the salary limit is limited to Rs.15,000. Even if the employee’s income exceeds Rs 15,000.
