Wednesday, February 19, 2025 | 02:56 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

EPFO interest rate reflects reality; is still better than other schemes: FM

The central board has proposed to slash the PF rate to 8.1 per cent for FY22 from 8.5 per cent in FY21 and FY20, the lowest in four decades

Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha during the second part of Budget Session of Parliament, in New Delhi
Premium

Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha during the second part of Budget Session of Parliament, in New Delhi

Shreya Nandi New Delhi
The reduction in interest rate offered by Employees’ Provident Fund Organisation (EPFO) to 8.1 per cent reflects ‘today’s realities’ and is still higher than interest on small savings schemes and bank fixed deposit rates, finance minister Nirmala Sitharaman said on Monday.

“EPFO has a central board which is the one which takes the call on what rate has to be given for them, and they have not changed it for quite some time...they have changed it now ... to 8.1 per cent," she said, adding that the proposal is yet to come to the finance ministry for approval. Sitharaman was

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in