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Employee Provident Fund Rate Hiked To 8.65%

Retirement fund body EPFO or Employees’ Provident Fund Organisation has increased the interest rate on employees’ provident fund (EPF) to 8.65 per cent for the current financial year (2018-19).The increase in EPF interest rate – from 8.55 per cent in financial year 2017-18 – is expected to benefit six crore subscribers of the provident fund scheme.All members of the Central Board of Trustees (CBT) of the EPFO agreed to give a higher interest for subscribers for the current fiscal year, Mr Gangwar was quoted as saying by the agency. The proposal would go to the Ministry of Finance for approval, he said after meeting of Central Board of Trustees.

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