Under which recently the Minister of State for Labor and Employment, Rameshwar Teli has said in the House not to make any change in the interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Since then, it is being expected that a big decision can be taken.

Center made a big announcement

Actually, let us tell you that during the proceedings, Rameshwar Teli was asked in the House whether the government can consider increasing the rate of interest on the Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there will be no change in the interest rate on the PF account.

Higher interest than small savings schemes

Responding to this whole matter, Minister of State for Labor and Employment, Rameshwar Teli said that the interest rate of EPF is similar to other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

More than has already been placed. That is, according to Rameshwar Teli, the interest on PF from small savings schemes itself is high, so no consideration will be given to the interest rate hike. Let us inform here that the interest rate on EPF is being given at the rate of 8.10 percent, which will remain the same.

The post EPFO Interest Rates Increased: Good News! The interest rate on PF is going to increase so much, the government made a big announcement first appeared on Rightsofemployees.com.