If you are also an EPFO account holder, then there is important information for you. The government has given a big statement regarding increasing the interest rate on PF account. Minister of State for Labor and Employment, Rameshwar Teli has asked the House not to make any changes in the rate of interest on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Spoke of. Rameshwar Teli (Minister of State for Labor and Employment) has said this to the Rajya Sabha in a written reply to a question.
no motion to reconsider
Rameshwar Teli was asked in the Rajya Sabha whether the government is reconsidering increasing the interest rate on Employees’ Provident Fund deposits. Giving a written reply to this, the Union Minister clarified that no proposal has come to reconsider the interest rate. That is, there will be no increase in the interest rate available on PF accounts.
Now getting so much interest (interest on PF)
Rameshwar Teli (Minister of State for Labor and Employment) also said that the interest rate of EPF is applicable to other schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya. More than the Sukanya Samriddhi Account Scheme (7.60 percent). According to Rameshwar Teli, the rate of interest on pf from small savings schemes is still high. In such a situation, the eligible government will not consider the interest rate hike. Let us tell you that it has been approved to give 8.10 percent interest on EPF.
CBT had demanded such interest rate
The Minister of State for Labor and Employment has said that the interest rate on PF depends on the income received by the EPF from its investment and such income is distributed only according to the EPF Scheme, 1952. Also said that CBT and EPF had recommended 8.10 percent interest rate for 2021-22, which has been approved by the government.
