Interest on PF deposits hiked to 8.8% for FY 2015-16

Feb 16:Retirement fund body EPFO on Tuesday announced to hike interest rate on PF deposits to 8.8 percent for this fiscal, which is higher compared to 8.75 percent provided in previous two fiscals to its over five crore subscribers.

The Employees Provident Fund Organisation’s (EPFO) Finance Audit and Investment committee (FAIC) had early recommended 8.95 percent interest on PF deposits for the current fiscal.

The EPFO provides rate of interest from the earning on investments of formal sector workers’ funds without any assistance from the government.

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