EPFO: The Employees’ Provident Fund Organization (EPFO) has recently fixed the interest rates on PF. Since then, the employees are expecting that the PF interest money will be transferred to their account soon. If sources are to be believed, the government can transfer PF money by June 30. However, no statement has come from the government or EPFO on this.
Lowest interest in last 10 years
This time the employed people have got a big blow from the government because this interest is the lowest in the last 40 years. The EPFO has fixed the interest rate at 8.1% for the fiscal year 2021-2022, which is the lowest interest rate in the last 10 years. This decision of the government has shocked about 6 crore people of EPFO. In the last fiscal year, PF was getting 8.5% interest.
How much interest was received before this?
EPFO had given 8.5% interest in the financial year 2019-2020. After that in the fiscal year 2020-2021 also only 8.5% interest was received. Whereas in 2018-19, EPFO had given 8.65% interest. In the financial year 2017-18, 8.55% interest was received. In the financial year 2016-17, 8.65% interest was received and in the financial year 2015-16, 8.8% interest was received.