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EPF Interest Rate Lowered to 8.5% for 2019-20 on PF Deposits

30/10/2020 by epfindia 12 Comments

EPF Interest Rate Lowered to 8.5% for the Financial Year 2020-2021. EPF has reduced 15 basis points on Provident Fund Deposits. EPFO Interest rate for the financial year 2019-2020.
On 6th March 2020, Retirement fund body EPFO has lowered interest rates on provident fund deposits by 15 basis points (bps) for this financial year 2020-2021. EPFO will pay interest at the rate of 8.5% for the current financial year. Earlier interest rate was 8.65% for FY 2018-19.

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The move is going to impact 6 crore subscribers of the provident fund scheme. The decision was taken at a meeting of the EPFO’s top decision making body Central Board of Trustee (CBT). Labour Minister Santhosh Kumar Gangwar said that the new interest rate will result in surplus of of over 700 crore rupees for the current financial year. EPFO invests 85% of its annual earnings in debt market and 15% in equities through exchange traded funds (ETF’s).

EPF Interest Rate for FY’s

EPF Interest rate 8.5% for the financial year 2019-20

The initial approval for 8.5% EPF rate was consented to by the EPFO in 2019-2020.

The Labour ministry to lower down the EPF rate in order to bring the rate at par with other schemes such as the Public Provident Fund (PPF).

The finance ministry has been reportedly nudging the labour Ministry for lowering the EPF interest rate. The EPFO has investments of more than 18 lakh crore.

It may be added that the Finance Ministry had in the previous fiscal i.e. 2015-16 tried to reduce the then EPF rate of 8.8% to 8.7%, as approved by the Central Board of Trustees (CBT). However, the decision was scrapped as it had not fallen through with any of the concerned stakeholders.

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Filed Under: EPF Interest Rate Tagged With: EPF Interest Rate, EPF Interest Rates

Reader Interactions

Comments

  1. Shaila Narawade says

    02/05/2017 at 6:21 PM

    Pl. tell me how to update kyc details of employees through employer

    Reply
    • singh says

      21/08/2018 at 5:32 PM

      employer has a login id which he can update all employees details ; pls contact employer for the same

      Reply
  2. Akhil says

    21/12/2017 at 12:55 PM

    Dear Sir/Mam

    I have no UAN number, but PF A/c number is available. My form submitted 1 month at PF office by Currier. I want to current status regarding withdraw payment.

    plz give me ans

    Reply
  3. vishnu kumar says

    09/01/2018 at 11:52 AM

    dear friends,
    i dono my uan num as well as pf no. i want to withdraw my pf ?

    Reply
  4. Vineet Mishra says

    21/06/2018 at 8:08 PM

    Sir I have a UAN number and PF number, but I doesn’t know which mobile number is registered as well as password don’t know. Please help me… Is this possible to know pf amount without password and mobile number. I have only pf and UAN number. Please help me recover my account.

    Reply
    • Amsavalli says

      02/02/2019 at 8:30 PM

      I need to my pfbalance

      Reply
  5. Ramesh Chandra Kerwar says

    04/09/2018 at 1:33 PM

    Please inform when we will be get interest amount credit in our account ?

    Reply
  6. Sanjay Fargade says

    26/09/2018 at 5:54 PM

    ON MY EPFO ACCOUNT NOT ADD INTREST RATE 8.55% 2017-18 AS PER MINISTER STETMENT

    WHEN ITS ADD INTREST

    Reply
  7. SANJAY MONDAL says

    17/04/2019 at 11:10 AM

    Dear Sir/Mam

    I have no UAN number, but PF A/c number is available. My form submitted 1 month at PF office by Currier. I want to current status regarding withdraw payment.

    plz give me ans

    Reply
  8. Rajanikant pathak says

    22/01/2020 at 1:31 PM

    My pf not processing by company. Hbl global pvt Ltd.

    Reply
  9. RAMCHAND KUMAR says

    25/07/2020 at 9:04 PM

    I have not uan number pls tell me how can receive me uan number

    Reply
  10. Chowda Reddy N says

    11/09/2020 at 2:54 PM

    I don’t have my UAN no how I can know my of amount please

    Reply

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