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Interest rate on Provident Fund deposits raised to 8.75%
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roy_subir Offline
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Interest rate on Provident Fund deposits raised to 8.75%
The Employees Provident Fund Organisation decided to increase the interest rate on Provident Fund deposits for 2013-14 to 8.75%.
This is an improvement of 0.25% over the 8.5% interest rate paid last year. The announcement made by labour minister Oscar Fernandes after a meeting on Monday will benefit close to eight crore subscribers.
EPFO fixes the rate based on the interest earned on its investment and its expenses.
01-13-2014 05:53 PM
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