EPFO starts crediting 8.5% interest for 2019-20

New Delhi: Employees Provident Fund Organisation (EPFO) has started crediting 8.5% interest in employees’ provident fund (EPF) for 2019-20 for its over six crore members.

Labour Minister Santosh Gangwar said the Ministry has issued a notification to provide 8.5% interest into subscribers account.

The Minister also asked the officials to ensure that all those members who are retiring on December 31, must get 8.5 per cent rate of interest for 2019-20.

Gangwar had approved the 8.5 per cent rate for last fiscal after receiving the finance ministry’s concurrence.