New Delhi, Sep 17 (IANS) Labour Minister Santosh Gangwar on Tuesday said that over 6 crore EPFO members will get 8.65 per cent interest for 2018-19.
Earlier, the Employees' Provident Fund Organisation's (EPFO) apex decision-making body Central Board of Trustees had decided to raise the interest rate on EPF to 8.65 per cent for the year 2018-19.
The EPFO is currently, paying an interest rate of 8.55 per cent for 2018-19 under EPF withdrawal claims. The 8.55 per cent interest rate on EPF deposits was fixed for 2017-18.
For 2018-19, EPFO had raised interest rate to 8.65 per cent, from 8.55 per cent provided in 2017-18. The EPFO had earlier reduced the interest rate for 2016-17 to 8.65 per cent as compared with 8.80 per cent for 2015-16.
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz