EPFO hikes Interest Rate for FY2019 : 8.65 %

EPF Interest Rate Hikes For 2019 : 8.65%

EPFO Hike Intrest Rate PF 8.65 % For 2019

New Delhi: The Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO) Thursday recommended hiking the interest rate for its 6-crore active subscribers to 8.65 per cent for the current financial year of 2018-19 from a five-year low of 8.55 per cent in the previous financial year.

HIGHLIGHTS

The rate of interest stood at 8.55 per cent for the Year 17-18

Employees' Provident Fund Organisation has over six crore subscribers.

The increase in interest rate will yield an interest rate higher than most small savings instruments, which are linked to yield on government securities. Among the small savings schemes, barring the Sukanya Samriddhi accounts for the girl child and 5-year savings scheme for senior citizens, most small savings rates are below 8 per cent...