New Delhi: The Central Board of Trustees of Employees’ Provident Fund Organisation (EPFO) has recommended interest rate of 8.5 percent — the lowest interest rate in over five years — on Provident Fund deposits to around six crore subscribers for the current financial year (2019-20).
This is lower than the 8.65 percent interest rate given on Employees’ Provident Fund (EPF) deposits for the previous financial year 2018-19. The EPFO had provided 8.65 percent rate of interest to its subscribers for 2016-17 and 8.55 percent in 2017-18. The rate of interest was slightly higher at 8.8 percent in 2015-16.
