What's Hot

    Adani saga will not affect Indian economy: Nirmala Sitharaman

    February 4, 2023

    Budget’s main focus is growth; Mumbai should be liking proposals: FM

    February 4, 2023

    Privatisation of 2 public sector banks and 1 general insurance firm not on the table: DIPAM Secretary

    February 3, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    Invest PolicyInvest Policy
    Subscribe
    • Banking
    • Economy
    • Finance
    • Insurance
      • LIC
    • Investment
    • Market
    • Money
    • MF
    • More
      • Scheme
      • Property
    Invest PolicyInvest Policy
    Home Big blow to 5 crore EPF subscribers, PF interest rates at four-decade low
    Market

    Big blow to 5 crore EPF subscribers, PF interest rates at four-decade low

    Nisha ChawlaBy Nisha ChawlaJune 3, 2022No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    EPF Interest Rate: The government has approved to raise the EPF interest rate to 8.1 percent for the financial year 2021-22.

    EPF Interest Rate: The government has approved to raise the interest rate of Employees’ Provident Fund (EPF) to 8.1 percent for the financial year 2021-22. This is the lowest interest rate in the last four decades. This decision of the government has dealt a big blow to about 50 million subscribers of retirement fund body EPFO. Earlier in March, EPFO ​​had decided to cut the interest rate on PF deposits, which has been approved by the government today (June 3). EPFO has also issued its notification. In the financial year 2020-21, this rate was 8.5 percent.

    Strictness on Chinese-Pakistani becoming directors in Indian company, Modi government changed rules for neighboring countries

    Approval has been received from the Ministry of Finance

    EPFO had proposed 8.1 percent interest rate under the EPF scheme for the financial year 2021-22. The Labor Ministry had sent this proposal to the Finance Ministry for approval, on which the approval has been received today. After the approval of the government, EPFO ​​will start crediting interest in the account of all EPF account holders for the financial year 2021-22.

    Government against adding service charge in the food bill, but also showed the way to increase the rate to the restaurants

    KE Raghunathan, an EPFO ​​trustee representing the employers, says the fast rate of interest approved by the finance and labor ministries is welcome as it leaves the workers in dire need of money and the expenses related to children’s education etc. for their money will be available.

    Unsold Housing Stocks: 9 lakh houses did not get customers in the March quarter, unsold inventory increased by 1% in eight major cities including Delhi-Mumbai

    Interest rate at 44 year low

    The EPF interest rate for the financial year 2021-22 is 8.1 percent, which is the lowest since 1977-78. In 1977-78 this rate was 8 per cent. Given below are the details of interest rates on EPF deposits for some financial years-
    1977-78: 8%
    2011-12: 8.25%
    2012-13: 8.5%
    2013-14: 8.75%
    2014-15: 8.75%
    2015-16: 8.8%
    2016-17: 8.65%
    2017-18: 8.55%
    2018-19: 8.65%
    2019-20: 8.5% (This was the lowest interest rate in seven years i.e. after 2012-13.)
    2020-21: 8.5%

    (Input: PTI)

    EPF EPF Interest Rate epf rate EPFO
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleStrictness on Chinese-Pakistani becoming directors in Indian company, Modi government changed rules for neighboring countries
    Next Article On most items, India’s inflation rate lower than the world’s: Piyush Goyal
    Nisha Chawla
    • Website

    Related Posts

    Many EPF account holders still await interest credit for 2021-22

    February 2, 2023

    Budget 2023 | Defence sector gets lion’s share

    February 1, 2023

    Apple targets raising India production share to up to 25%: Goyal

    January 23, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Rakesh Jhunjhunwala’s portfolio stock can give 77% return, chance to buy at 50% discount

    July 4, 2022

    India among countries that shape global financial trends: PM Modi

    July 29, 2022

    Taking loan from PNB and Bank of India is expensive, decision taken after hike in repo rate

    June 8, 2022
    Advertisement

    Our main motto is to help our customers in making personal finance decisions easy and convenient as per their comfort. We are committed to provide accurate and unbiased information at your doorstep and keep it transparent among our customers.

    We're social. Connect with us:

    Facebook Twitter YouTube LinkedIn
    Top Insights

    Adani saga will not affect Indian economy: Nirmala Sitharaman

    February 4, 2023

    Budget’s main focus is growth; Mumbai should be liking proposals: FM

    February 4, 2023

    Privatisation of 2 public sector banks and 1 general insurance firm not on the table: DIPAM Secretary

    February 3, 2023
    Must Read

    What is UTR Number in Phonepe and Google Pay? how to check

    March 1, 2022

    What is the minimum balance required in SBI Savings Account?

    December 5, 2021

    What is Aadhaar Paperless Offline E-KYC? How to download XML file?

    April 27, 2022
    © 2023 Invest Policy.
    • About Us
    • Contact Us
    • Advertise
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.