EPF rate at 8.10% for 2022, lowest in decades

Saturday, 12 March 2022newsdesk

The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation in its meeting in Guwahati has recommended 8.10 per cent interest rate for its subscribers for financial year 2021-22, two Board members told The Indian Express.

New Delhi, 12 March 2022

As per news report of The Indian Express, this is the lowest interest rate in at least four decades. The EPFO Board had in March last year, finalised a recommendation of 8.5 per cent interest rate for the previous financial year 2020-21. The CBT, headed by the Union Labour Minister and having representatives from employers’ and employees’ side, makes the recommendation for interest rate. The recommendation is then ratified by the Finance Ministry.

Source - The Indian Express