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Interest rate on deposits slashed to 8.5% from 8.65% by EFPO

Shortpedia

Content Team

In a major hit for 6 crore subscribers, the EPFO has decided to provide 8.5 per cent interest rate on EPF deposits for 2019-20. The decision was taken in the Central Board of Trustees (CBT) meeting today. The Retirement fund body had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The rate of interest was 8.55 per cent in 2017-18 and 8.65 per cent in 2016-17.