Chennai-based Sudarshan Jain was in for a shock when he checked his Employee Provident Fund passbook in August this year. “EPFO considers the previous year's declared rate of interest to process the claim. If the present year rate of interest is higher than the previous year, to that extent, member will be in loss of interest," he said. If EPFO …
Employees' provident fund interest rate was cut to a four-decade low of 8.1 per cent for the 2021-22 fiscal. EPF INTEREST RATE The EPFO paid 8.5 per cent interest rate to its subscribers in 2020-21, the same as in the previous year. EPF INTEREST TO SUBSCRIBERS The 8.1 per cent interest rate was recommended by the Central Board of Trustees …
