Retirement fund body EPFO on Thursday started crediting 8.5 per cent rate of interest on employees’ provident fund (EPF) for 2019-20 for its over six crore members, a senior official said.
A large number of members of the Employees Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20, a senior official told PTI.
The official further informed that the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO and the body has already started crediting interest into members account for the last fiscal.
Labour Minster Santosh Gangwar said, “We had said that it would be our endeavour to provide 8.5 per cent rate of interest on EPF for 2019-20. We have issued