The Employee’s Provident Fund Organization(EPFO) vide a circular dated 27th September has declared the credit interest rate on PF deposits to 8.65 per cent for the 2018-1019 financial year. The interest rate on EPF is hiked to 8.65% from 8.55% declared in 2017-18. In February, the EPFO’s apex decision-making body, the Central Board of Trustees, headed by the labour minister Santosh Gangwar, had decided to raise the interest rate on the EPF to 8.65% for 2018-19 for the benefit of PF subscribers. The PF interest rate for last 5 years are as follows-
By this circular, EPFO also directed to all regional provident fund commissioners, officers-in-charge and regional offices to issue necessary instructions for crediting the interest rate for 2018-19 to the Provident Fund account of the members.