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EPFO likely to retain 8.55% interest rate for FY 2018-19

Retirement fund body EPFO is likely to retain the interest rate on employees’ provident fund at 8.55% rate for the 2018-19 fiscal for its more than six crore subscribers, a highly-placed source said. The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year. Once approved by the CBT, the proposal is required concurrence of the Finance Ministry. The interest rate is credited into the subscribers account after the Finance Ministry’s approval.

Read More at The Financial Express News date : 11 Feb 2019, Monday

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