It’s really a good news for almost 6 crore EPF a/c holders! Keeping in view the festive season ahead, Central Government is planning to fetch interest rate of 8.5% for this financial year 2020-21.
Regarding this issue, Employees union expresses their gratitude for crediting interest before Diwali. Though this interest rate is far below the past 7 years rate, due to covid-19 issue and PF Contributions are not expected as per the pre-covid levels, government has fixed 8.5% interest rate for this financial year.
Central workers union also gives consent to this proposal and if all things are done as expected, very soon EPF a/c holders will receive 8.5% interest rate on or before diwali. Let’s cheers up employees!