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Tuesday, April 26, 2016

FinMin approves 8.7% interest on EPF for 2015-16 Monday April 25,2016



The Finance Ministry has approved 8.7 % interest on PF deposits for over 5 crore subscribers of retirement body EPFO, lower than 8.8 % decided by the Central Board of Trustees (CBT).

“The (EPFO’s apex decision-making body) CBT, at its meeting held in February 2016, has proposed an interim rate of interest at 8.8 % to be credited to the accounts of Employees’ Provident Fund subscribers for 2015-16. 
The Ministry of Finance has, however, ratified an interest rate of 8.7 %,” Labour Minister Bandaru Dattatreya said in a written reply to the Lok Sabha on Monday April 25,2016

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