Central Board of Trustee, the main decision-making body of EPFO to take a call on the interest rate on employees’ provident fund deposit for 2021-22 in March. The Employees’ Provident Fund Organisation (EPFO) CBT meeting is scheduled in March in Guwahati where the proposal for a revised interest rate would be finalized as it is the end of the fiscal year. This announcement was made by the Union Labor Minister, Bhupender Yadav.
When the question was raised on maintaining an 8.5 percent interest rate for 2021-22, Yadav said that the final decision interest rate would be taken on the basis of income projection for the financial year.
For the year 2020-21, 8.5 percent interest rate on employees’ provident fund was announced by the Central Board of Trustee (CBT) in March 2021. It was approved by the finance ministry in October 2021. Thereafter, EPFO had issued directions to field offices to credit the interest income at the same percentage into the subscribers’ account as decided.
