EPFO likely to credit interest for 2020-21 in accounts of over six crore subscribers; rate still at 8.5%
3 years, 5 months ago

EPFO likely to credit interest for 2020-21 in accounts of over six crore subscribers; rate still at 8.5%

Firstpost  

The finance ministry is expected to give its seal of approval to the decision soon The Employees Provident Fund Organisation is expected to credit the interest declared for the financial year 2020-21 in the accounts of six crore subscribers around Diwali, according to media reports. The move is set to bring some festive cheer to the salaried class, as the EPFO had kept the interest rate unchanged on the provident fund deposits at 8.5 percent for 2020-21. Check PF balance through SMS service EPFO members with a Universal Account Number can use their registered mobile number to “EPFOHO UAN ENG” to 7738299899. In her Budget 2021 speech, Finance Minister Nirmala Sitharaman has declared that interest on employee contributions to the PF amounting to over Rs 2.5 lakh per annum would be taxed from 1 April to “rationalise tax exemption for the income earned by high-income employees”.

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