Govt Notifies Lowest Rate In 5 Years Of 8.55% For EPF Subscribers For 2017-18

For the year 2017018, the retirement fund body EPFO has notified the lowest interest rate in 5 years of 8.55% and consequently asked its field offices to credit the same interest in around 5 crore EPF subscribers.

As per an order issued by the retirement body, the agreement of the government has been intimated by the labour ministry.

Govt Notifies Lowest Rate In 5 Years Of 8.55% For EPF Subscribers For 2017-18

For the last fiscal, the finance ministry notified a rate of 8.55% but that could not be implemented due to model code of conduct for Karnataka elections.

For 2016-17, the EPFO offered 8.6%, 8.8% in 2015-16, 8.75% each in 2014-15 and 2013-14.

In 2012-13, EPFO had offered 8.5% rate of interest on EPF. Thus, at 8.55% for 2017-18, it is a five year low.

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