Photo for representational purpose only.
New Delhi, June 3
The Centre on Friday approved 8.1 per cent rate of interest on employees’ provident fund (EPF) deposits for 2021-22.
The rate would be at a near four-decade low. In March, the Central Board of Employees’ Provident Fund Organisation (EPFO) had proposed an 8.1 per cent rate of interest on provident fund deposits, which has now been approved by the Centre. In 2020-21 fiscal, the interest rate was 8.5 per cent. The EPFO is India’s largest retirement fund and second largest non-banking financial institution with a corpus of Rs 16 lakh crore.
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