The Employee Futures Fund (EPF) and the Public Futures Fund (PPF) are seen as long-term investments. Any employed person will try to secure his or her future through all these plans. But did you know that EPF is offering 3% and PPF 4.8% interest rates at a time?
The Public Futures Fund (PPF) was launched in 1968. Only 4.8% interest rate was available on this project. But then it rose to 12 per cent. Currently, 7.1% interest rate is available on PPF. This is the lowest in the last 44 years.
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At the same time, the Employees Provident Fund (EPF) was started by the Government of India in 1952. In the first three years, only 3% interest was available through this scheme. In fiscal year 1990, it was offering up to 12% higher profits. There has been a decline in it ever since.
The PPF interest rate was lowered to 8% in 2016, 7.8% in 2017 and again in 2018 to 7.6%. According to the report, the EPF interest rate has risen by 8.5% in all these years.
The EPFO interest rate is deposited in July
The Employee Provident Fund Organization (EPFO) has determined that the interest rate for the year 2020-21 is 8.5%. This interest is expected to come in July now. Good news for EPFO account holders affected by the corona epidemic. According to sources, interest rates can be deposited any day of the next month.
At the EPFO’s central trustees’ meeting in March, it was decided that interest rates for 2020-21 would not be changed. Even in 2019-20, the interest rate is only 8.5%. Interest rates were slashed in 2019-20 due to Corona. Interest rate was 8.65% in 2018-19 and 8.55% in 2017-18.
Good news for EPFO account holders, interest in the PF account may come in July