Central government announces reduction of PF interest rate to 8.5%!
Posted on: 05/Mar/2020 3:26:37 PM
The central government has announced today (Thursday, 5th March) that the interest rate for the employees’ provident is being reduced from 8.65% to 8.50%.
During the financial year 2018-19, the interest rate for PF was 8.65%. In this situation, now for the current financial year 2019-20, the central government has reduced this PF interest rate by 0.15% and will be 8.50%.
Thus, it has been informed that the provident Fund account holders will earn a revenue lesser by 0,15%.
As there was a reduction in the revenue for the Employees’ Provident Fund Organisation (EPFO) due to the economic recession, this reduction in PF interest has been made.
