The Central Government is going to take a big decision today for the six crore job holders in the country. The rate of interest on provident fund deposits for financial year 2020-21 will be announced by the central government today. Therefore, the employees who have been waiting for a long time will understand whether the interest rate will be reduced or increased.
EPFO's Central Board of Trustees (CBT) meeting will be held today, March 4, 2021 in Srinagar.
Interest rates on provident funds for the financial year 2020-21 are likely to be announced.Speculation is rife that the EPFO may lower interest on provident fund deposits for this fiscal (2020-21), from 8.5 per cent it provided for 2019-20,in view of more withdrawals and lesser contribution by members during this fiscal mainly due to the COVID-19 pandemic.