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Friday, April 29, 2016

EPF Interest Rate Increased to 8.8%, NDA Govt Gives in to Pressure Friday April 29,2016

Union Finance Ministry on Friday April 29,2016 increased interest rate on Employee Provident Fund (EPF) to 8.8% from the 8.7% decided earlier.

The decision was announced on a day trade unions held protests across the country against the lower interest rate.

The 8.7% interest rate for 2015-16, earlier ratified by the ministry, was lower than the 8.8% recommended by the retirement fund body EPFO.

 Last year the rate was 8.75%

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