EPFO slashes interest rates on deposits to 8.5%

Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) has decided to decrease the interest rate of employees provident fund to 8.5 percent for 2019-2020, announced Labour Minister Santosh Gangwar on Thursday.
“Central Board of Trustees have decided to decrease the rate of employees provident fund to 8.5 percent for 2019-2020. Earlier it was 8.65 percent,” Gangwar said.
The decision was taken during a meeting of the CBT which is the apex decision-making body of the EPFO.
The interest rate earlier was 8.65 percent.