EPFO likely to announce 8.55pc interest on EPF for FY19

EPFO reduces claim settlement period to 10 days
EPFO reduces claim settlement period to 10 days

NEW DELHI: Retirement fund body EPFO is likely to announce an interest rate of 8.55 per cent on PF deposits for 2018-19, same as provided in 2017-18, to its 6 crore subscribers, a highly placed source said.

“The proposal to declare interest rate for this fiscal is on the agenda of the Employees’ Provident Fund Organisation (EPFO) trustees meeting on February 21, 2019,” a source said.

The source further said, “The interest rate is likely to be retained at 8.55 per cent for this fiscal as provided in 2017-18 as Lok Sabha elections are around the corner. However the EPFO’s income estimates for 2018-19 have not been circulated among the trustees and will be tabled in the meeting.”(AGENCIES)