Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19.

The Central Board of Trustees—the apex decision-making body of the Employees' Provident Fund Organisation (EPFO)—had approved 8.65 per cent interest rate for the last fiscal in February this year.

The proposal was sent for the concurrence of the finance ministry. "...ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19," Gangwar told reporters on the sidelines of a function.

At present, the EPFO is settling PF withdrawal claims at 8.55 per cent interest rate, which was approved for 2017-18. 

TAGS

Disclaimer: Comments posted here are the sole responsibility of the user and do not reflect the views of THE WEEK. Obscene or offensive remarks against any person, religion, community or nation are punishable under IT rules and may invite legal action.