Categories: Banking

EPFO keeps interest rate unchanged at 8.5% for 2020-21

The board of Employees’ Provident Fund Organisation (EPFO) has kept the interest rates on Provident Fund deposits for the financial year 2020-21 at 8.5 per cent. The rate has been kept unchanged, as in 2019-20. The decision was taken by the Central Board of Trustees, at the 228th meeting, under the chairmanship of Labour Minister Santosh Kumar Gangwar.

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Last year, in March, EPFO had reduced the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20. For the financial year 2018-19, the interest rate was fixed at 8.65 per cent. The EPFO had provided an 8.55 per cent interest rate to its subscribers for 2017-18 and an interest rate was 8.65 per cent for the financial year 2016-17.

Important takeaways for all competitive exams:

CEO of EPFO: Sunil Barthwal.
EPFO Founded: 4 March 1952.
EPFO Headquarters: New Delhi.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.