Union Labour Minister Bandaru Dattatreya on Thursday said the Finance Ministery has revised interest rate on Employees' Provident Fund (EPF) to 8.65…
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Union Labour Minister Bandaru Dattatreya on Thursday said the Finance Ministery has revised interest rate on Employees' Provident Fund (EPF) to 8.65 per cent for the financial year 2016-17.
“Finance Ministry has approved 8.65% interest rate on EPF for 2016-17” Dattatreya said.
The change in interest rates will enable the retirement fund body Employees' Provident Fund Organisation (EPFO) to pay this interest rate to accounts of nearly four crore subscribers.
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There will surplus fund after providing 8.65 per cent interest rate for the last fiscal, according to EPFO estimates.
(With inputs from agencies)
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