EPFO Latest Update: Have you also not received PF interest amount in your account? If you too have not received the interest money of PK, then definitely read this news. Actually, EPFO i.e.
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Employees’ Provident Fund Organization has told why this amount is not showing in your account. The Finance Ministry has issued its clarification on this subject.
Finance Ministry gave information
In a tweet, the Finance Ministry has blamed the technology for this. Giving information, the ministry has said that due to ‘software upgrade’ for changes in the taxation law on PF savings, customers are not able to see the interest credit. The ministry tweeted, ‘There is no loss of interest for any customer. The interest is being credited to the accounts of all EPF subscribers. However, this is not visible in view of a software upgrade being implemented by EPFO.
Let us tell you that in response to a tweet by Mohandas Pai, former director of Infosys Technologies, the Finance Ministry issued a clarification. “Payment along with interest is being made to all outgoing customers seeking settlement and customers seeking withdrawals,” the ministry said in another tweet.
There is no loss of interest for any subscriber.
The interest is being credited in the accounts of all EPF subscribers. However, that is not visible in the statements in view of a software upgrade being implemented by EPFO to account for change in the tax incidence. (1/2) https://t.co/HoY0JtPjII
— Ministry of Finance (@FinMinIndia) October 5, 2022
Mohandas Pai tweeted
In fact, earlier Mohandas Pai has tweeted, tagging Finance Minister Nirmala Sitharaman, Prime Minister’s Office and PM Narendra Modi, “Dear EPFO, where is my interest?
This time getting the lowest interest
It is worth noting that according to the information given by the government, EPF subscribers will get an interest rate of 8.1% for 2021-22 in their retirement savings accounts. Earlier in March this year, the Employees’ Provident Fund Organization (EPFO) had decided to reduce the 8.5% given on EPF deposits in 2020-21 to 8.1% for 2021-22.
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