The EPFO has an interest rate declared on future fund deposits for the financial year 2020-21. There is no change in the interest rate. The Central Board of Employees Provident Fund Organization (EPFO) has announced that Srinagar will give 8.5 per cent as the previous financial year of the trustees. This news was quoted by PTI sources. Earlier EPFO was rumored to be cutting interest rate on future fund deposits for this financial year (2020-21). Explain that EPFO has more than 50 million active customers.
Most interest in EPF was received in 2015-16
<![CDATA[
]]>
| Financial year | Percent interest rate |
| 2020–21 | 8.5 |
| 2019-20 | 8.5 |
| 2018-19 | 8.65 |
| 2017-18 | 8.55 |
| 2016-17 | 8.65 |
| 2015-16 | 8.8 |
| 2014-15 | 8.75 |
| 2013-14 | 8.75 |
| 2012-13 | 8.5 |
| 2011-12 | 8.25 |
EPFO Central Board of Trustees, Ram Kishore Tripathi, said in a CBT meeting for the first time that talks were held with Hindustan at the Centaur Hotel near Dal Lake, Srinagar. Here all the PF members of Jammu and Kashmir have joined the EPFO. For the current financial year, PF shareholders will continue to receive interest as in the previous year. So far, 16 lakh members have pulled out 1.5 thousand crores from the PF, so it is scheduled for the meeting, the lock-down accounts are 10 years before the shareholders, who are withdrawing all the money from the old account, then close the account. Now the pension contribution cannot be paid. They have to fill up their deposit in PF account. This decision is expected to come into effect immediately.
At a CBT meeting, Labor Minister Santosh Gangwar, Labor Secretary and EPFO agreed to the proposal that the PF shareholder contribution of the EPFO mid-term presidency be fixed at Rs 15,000. There is no agenda of applying the PF contribution to organizations of 20 to 10 employees at Thursday’s meeting, but the meeting was proposed on their behalf, the Labor Minister promised to call for a larger meeting.
No interest is deposited in a PF account of Rs 40 lakh
Interest on the 40 lakh Provident Fund (PF) shareholders account of the Employees Provident Fund (EPFO) has not been deposited. At the same time, about one-and-a-half months ago, the government announced interest payments on PF accounts for fiscal year 2019-20. This is due to the mismatched KYC (Know Your Customers) EPFO provided by the employer. Two government officials have provided this information about their identity.
Gold Price Latest: Gold Begins Cheap, 24 Carat Gold Price Broke Down Rs 1229, Less Than 45000
However, the issue of interest payment delay has come to light. An official with the EPFO said 8 to 10 per cent of PF shareholder interest had not been credited to his account. This mismatch is due to KYC. However, the officer may be surprised how this delay is made when every transaction is made online. In addition, we are trying to prevent shareholders from facing this issue during the past move by the PF, ”an official said. In addition, we are working to ensure that there is no problem with accumulating interest deposits in the shareholder account as it is about to end 2020-21.
.
