With the Staff’ Provident Fund Organisation (EPFO) having finalised the rates of interest on provident fund deposits for 2020-21 at 8.5 per cent, the retirement physique is more likely to credit score the curiosity quantity within the accounts of its subscribers by July, 2021.
Sources with the EPFO mentioned that the curiosity quantity is more likely to be credited within the accounts of subscribers by subsequent month, nonetheless the precise date is just not but clear.
EPFO had, through the assembly of its Central Board of Trustees in March 2021, determined to maintain the rate of interest for 2020-21 unchanged at 8.5 per cent. In 2019-20 additionally the rate of interest was at 8.5 per cent.
Because of the Coronavirus pandemic, EPFO had reduce down the rate of interest to a seven-year low of 8.5 per cent for 2019-20 in final March.
In 2018-19, the speed of curiosity was 8.65 per cent, whereas it was 8.55 per cent in 2017-18.
The EPFO’s trustees meet yearly in March to finalise the rate of interest for the continued fiscal after evaluating its deposits.