The Employees Provident Fund Office (EPFO) has set the interest rate at 8.15 percent for provident fund for this fiscal, according to sources.
The EPFO had declared an 8.1 percent interest rate for 2021-22, which was the lowest in four decades. The last time the interest rate had slipped to 8 percent was in 1977-78.
The Ministry of Finance’s approval is required before the interest rate is officially declared in the government gazette, after which the EPFO will credit the interest rate into the accounts of its subscribers.
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Categories: Income Tax, Personal Finance
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