EPFO credits 8.50% interest in 23.44 crore account holders for FY21

 

In October, EPFO announced the declaration of the rate of interest for the Employees’ Provident Fund Members accounts for the year 2020-21.

Employees’ Provident Fund Organisation (EPFO) has credited an interest rate of 8.50 per cent in 23.44 crore account holders for the financial year (FY) 2020-21, the retirement fund body announced today on its official Twitter handle.

 

 

“23.34 crore accounts have been credited with an interest of 8.50% for the FY 2020-21, ” EPFO said in a tweet.

In October, EPFO announced the declaration of the rate of interest for the Employees’ Provident Fund Members accounts for the year 2020-21.
“The Ministry of Labour and Employment has conveyed the approval of the central government under para 60(1) of Employees’ Provident Fund Scheme, 1952 to credit interest at 8.50 per cent for the year 2020-21 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952,” EPFO had said in its official circular.