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  Business   In Other News  17 Sep 2019  Over 6 cr EPFO members to get 8.65 pc interest for 2018-19: Labour minister

Over 6 cr EPFO members to get 8.65 pc interest for 2018-19: Labour minister

PTI, AP
Published : Sep 17, 2019, 1:44 pm IST
Updated : Sep 17, 2019, 1:57 pm IST

At present, the EPFO is settling PF withdrawal claims at 8.55 per cent interest rate.

The proposal was sent for the concurrence of the finance ministry.
 The proposal was sent for the concurrence of the finance ministry.

New Delhi: Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19.

The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal in February this year.

 

The proposal was sent for the concurrence of the finance ministry.

"...ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19," Gangwar told reporters on the sidelines of a function here.

At present, the EPFO is settling PF withdrawal claims at 8.55 per cent interest rate, which was approved for 2017-18.

Tags: epfo, interest rate, provident fund, labour minister, cbt, finance ministry
Location: India, Delhi, New Delhi