The Employees Provident Fund Organization (EPFO) has credited 8.45 per cent interest to 23.44 crore account holders in the financial year 2020-21. This information has been given from the official Twitter account of EPFO. The interest rate was announced by the EPFO in October this year. Accordingly, it has been informed that interest has been accrued at 8.50 per cent.
The Employees Provident Fund is a scheme run by the Ministry of Labor and Employment for private as well as government employees. Under this scheme, special interest is paid on the employee's deposit every year.
Meanwhile, the EPFO had changed some of its rules a few months back. According to the new rules, if your Aadhaar number is linked to UAN number, money will be credited to your PF account.
"23.34 crore accounts have been credited with an interest of 8.50% for the FY 2020-21," EPFO tweeted.