'Return gift': Congress' jibe at BJP after EPFO cuts interest rate to 8.1%, lowest in 4 decades
2 years, 9 months ago

'Return gift': Congress' jibe at BJP after EPFO cuts interest rate to 8.1%, lowest in 4 decades

Hindustan Times  

The latest reduction in Employees' Provident Fund Organisation's interest rate is a "return gift" by the Bharatiya Janata Party to people after it secured a record win in the recently concluded assembly elections in five states, Congress general secretary and chief spokesperson Randeep Surjewala said on Saturday. "The EPFO has reduced the interest rate on PF deposits to the lowest level in 10 years. Earlier in the day, the Employees' Provident Fund Organisation's top decision-making body the Central Board of Trustees approved an 8.1% interest rate on provident fund deposits for the financial year 2021-22. The interest rate for the current fiscal year ending March 31 was set by the retirement fund body EPFO for its about five crore subscribers.

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