The interest rate on Provident Fund deposits for 2021-22 may be finalised. For this, the Central Board of EPFO has called a meeting in Guwahati early next month.
Employee Pension Scheme : There is big news for the employees of Employees’ Provident Fund Organization (EPFO). For 2021-22, a big decision can be taken soon on increasing the interest rate on Provident Fund ie PF deposits. According to media reports, a big meeting of the Central Board of Trustees (CBT) is going to be held in Guwahati in March, in which the final decision can be taken.
According to media reports, EPFO employees can get great news in March. The interest rate on Provident Fund deposits for 2021-22 can be finalized in March. For this, the Central Board of EPFO has called a meeting in Guwahati early next month. It is believed that in this meeting, under the chairmanship of Labor Minister Bhupendra Yadav, the EPFO Board can take a decision on the EPF interest rate for 2021-22. Along with this, there can also be a discussion about increasing the minimum amount of pension.
The CBT meeting held in Srinagar in March last year had recommended 8.5 per cent annual interest rate on EPF deposits in members’ accounts for 2020-21, after which the Finance Ministry also approved the proposal. The CBT meeting of the Central Board of Trustees was held in November last year, but no decision could be taken on increasing the EPS, but now it is expected that a decision can be taken soon.
Earlier in the year 2011-12, the PF rate was 8.25 percent, in 2013-14 EPFO used to give 8.75 percent interest on PF deposits, in 2012-13 the PF interest rate reached 8.5 percent. The interest rate of PF was 8.65 percent in 2018-19, 8.65 percent in the year 2016-17 and 8.55 percent in the year 2017-18 and the interest rate for 2019-20 was fixed at 8.5 percent, which is the highest in the last 7 years. At present, interest is being given at the rate of 8.5 percent on the money deposited in PF.
