Big PF update! EPFO to decide on interest rate for 2021-22 in March --4 methods to know your a/c balance
Zee News
The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the Central Board of Trustees (CBT) in March 2021.
New Delhi: EPFO's apex decision-making body Central Board of Trustee will take a call on interest rate on employees' provident fund deposits for 2021-22 in its meeting next month.
On the matter related to maintaining the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Union Labour Minister and CBT head Bhupender Yadav told PTI that the decision would be taken on the basis of income projection for the financial year.
The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the Central Board of Trustees (CBT) in March 2021. It was ratified by the finance ministry in October 2021 and thereafter, EPFO issued directions to field offices to credit the interest income at 8.5 per cent for 2020-21 into the subscribers' account. Once CBT decides an interest rate on EPF deposits for a fiscal year, it is sent to Ministry of Finance for concurrence.
