EPFO’s big decision! You will not get interest on PF together; this is how you can get money

The Corona epidemic has also affected the payment of shareholders of Employees’ Provident Fund (EPF). The Central Board of Employees’ Provident Fund Organization (EPFO) on Wednesday has decided to pay the interest of 2019-20 in two installments. EPFO interest of 8.5 per cent will be paid 8.15 per cent and later 0.35 per cent. 0.35% can be paid by December.

Interest will be paid in installments

The Employees Provident Fund Organization, which manages the Provident Fund, has decided to make partial payment of interest on the provident fund for the financial year 2019-20 to its six crore shareholders. It is currently decided to pay 8.15 percent interest on the Employees Provident Fund (EPF) out of the fixed rate of 8.50 percent. This decision was taken in a meeting of the EPFO ​​Trustee on Wednesday. The remaining 0.35 percent interest will be paid into the EPF accounts of the shareholders by December this year.

Interest on PF was fixed at the rate of 8.5 percent

The EPFO ​​had earlier planned to sell its funds invested in exchange traded funds in the market. The decision was taken to make full payment of interest at the rate of 8.5 per cent to EPF shareholders, but could not be done due to heavy upheaval in the market due to Covid-19.

The Central Board of Trustees of EPFO ​​is the apex decision making body of the organization. It will meet again in December 2020, in which the payment of interest dues at the rate of 0.35 percent in the accounts of Provident Fund shareholders will be considered. This issue of payment was not listed in today’s meeting of the Board of Trustees but some trustees raised the issue of delay in payment of interest in PF accounts. Labor Minister Santosh Gangwar is the Chairman of the Board of Trustees.

Kalinga TV is now on WhatsApp. Join today to get latest Updates
Leave A Reply

Your email address will not be published.