Epfo Interest Rate Cut
No loss of interest rate for EPFO subscribers, clarifies Finance Ministry
The Finance Ministry has said there is no loss of interest rate for EPFO subscribers and the delay in crediting interest for the last fiscal is due to software upgrade being conducted. It further said that for all outgoing subscribers seeking settlement and also those withdrawing their deposits, the payments are being done inclusive of the interest. "There is no loss of interest for any subscriber. The interest is being credited in the accounts of all EPF subscribers. However, that is not visible in the statements in view of a software upgrade being implemented by EPFO (Employees' Provident Fund Organisation) to account for change in the tax incidence," the ministry tweeted late on Wednesday night. The ministry said this on Twitter in reply to a tweet by IT industry veteran TV Mohandas Pai, who raised queries on interest in the Employees' Provident Fund deposits. "For all outgoing subscribers seeking settlement and for subscribers seeking withdrawal, the payments are being done ...
 "No loss of interest rate for EPFO subscribers, clarifies Finance Ministry")
Your PF account may soon attract lower interest rate for FY18
The finance ministry has been nudging the labour ministry to align the EPF rate with its small saving schemes
 "Your PF account may soon attract lower interest rate for FY18")
EPFO may cut interest rate from 8.65% to 8.5% for FY18 on Nov 23
Last year, the board of trustees had cut the interest rate on PF holdings to 8.65% from 8.8% the year before
 "EPFO may cut interest rate from 8.65% to 8.5% for FY18 on Nov 23")
