EPFO department is going to take a big decision soon, which will cause huge loss to the account holders, what is this announcement and how much will be the loss, let us know
Today the interest rates on EPF can be fixed. Revision in interest rate on Employees Provident Fund (EPF) can be done today. If media reports are to be believed then this interest rate can be less than 8 percent this time.
Today on Monday, the retirement fund body will discuss the interest received on EPF today and can take a decision on it. Apart from this, the board members will also hold a meeting on the issue of higher pension. Its proper implementation will also be discussed.
Interest on EPF may be less than 8%
According to a recent ET report, the government may reduce the interest rate on PF deposits for the financial year 2022-23 to around 8 percent as compared to the current rate of 8.1 percent. The Finance Investment and Audit Committee of EPFO has recommended this on the basis of earnings for 2022-23.
