EPFO slashes interest rates on deposits to 8.5%
Central Board of Trustees(CBT) of thee Employees Provident Fund Organisation(EPFO) has decided to decrease the interest rate of employees provident fund to 8.5 percent for 2019-2020,announced Labour Minister Santosh Gangwar on thursday.
"Central Board of Trustees have decided to decrease the rate of employees provident fund to 8.5 percent for 2019-2020.Earlier it was 8.65 percent",Gangwar said
The decision was taken during a meeting of the CBT which is the apex decision making body of the EPFO.
The interest rate earlier was 8.65 percent.
