EPFO slashes interest rate on deposits to 8.5% for 2019-20

Employees’ Provident Fund Organization (EPFO), the retirement fund body has lowered the interest rate from 8.65% to 8.50% on provident fund deposits for the financial year 2019-20. The announcement of the reduced interest rate was made by Labour Minister Santosh Gangwar. The decision was taken during the meeting of the EPFO apex decision making body-the Central Board of Trustee, held in New Delhi.

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