Centre approves 8.65% of interest on provident fund amount

Vastavam web: Central Finance Department decided to give 8.65% interest on provident fund amount. This decision benefits more than 4 crores of EPFO subscribers. It also advised the central Labour Department to check that after the payments of the PF interest there should not be annual return deficit. The PF interest rate is decided under the leadership of Central finance minister in the meeting of Central Board trustee.

EPF is thinking to bring in the exit policy to make better returns on the Investments. Usually majority of the EPFO subscribers deposits fund will be invested in the government securities. Whether exit policy EPFO investments can be withdrawn from reduce the returns schemes does if the reduced returns improve,more interest payments on EPF may be possible.