EPFO slashes interest rates on deposits to 8.5%

By ANI | Updated: March 5, 2020 14:36 IST2020-03-05T14:28:50+5:302020-03-05T14:36:01+5:30

Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) has decided to decrease the interest rate of employees provident fund to 8.5 percent for 2019-2020, announced Labour Minister Santosh Gangwar on Thursday.

EPFO slashes interest rates on deposits to 8.5% | EPFO slashes interest rates on deposits to 8.5%

EPFO slashes interest rates on deposits to 8.5%

New Delhi [India], Mar 05 : Central Board of Trustees (CBT) of the Employees' Provident Fund Orgsation (EPFO) has decided to decrease the interest rate of employees provident fund to 8.5 percent for 2019-2020, announced Labour Minister Santosh Gangwar on Thursday.

"Central Board of Trustees have decided to decrease the rate of employees provident fund to 8.5 percent for 2019-2020. Earlier it was 8.65 percent," Gangwar said.

The decision was taken during a meeting of the CBT which is the apex decision-making body of the EPFO.

The interest rate earlier was 8.65 percent.

( With inputs from ANI )

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