social security fund provident fund There is good news for the subscribers. There is information that the Employees’ Provident Fund Organization (EPFO) for the financial year 2020-21 in the next month i.e. July. PF Deposit But they can get their interest money. for this financial year 8.5% interest rate has been fixed.
Sources said that the EPFO will send the interest money to the subscribers’ account by July, although it is not clear by what date the subscribers will get their money in July.
Let us inform that the Central Board of Trustees (CBT) of EPFO had a meeting in March, after which there was no change in the rates. In 2019-20 also, the board had kept the interest rates only 8.5.
Due to Coronavirus, EPFO had to make a big cut in the interest rate given on PF. In 2019-20, while reducing the interest rate to the lowest level of seven years, it was reduced to 8.5. In 2018-19, the interest rate was 8.65 percent, while in 2017-18 it was kept at 8.55 percent.
Want to check PF balance? You can check in many ways, see step-to-step guide
Let us tell you that the Board of Trustees of EPFO meets every year in March to fix the interest rate. The interest rate for the current financial year is determined by estimating the deposit of PF.
Aadhar linking with EPF account is mandatory
Talking about EPF, let us remind you of one more thing that from June 1, 2021, another new rule of EPFO has come into force. Now it will be mandatory for the subscribers to link their EPF account with their Aadhar card, for their PF contribution money to be made by the employer reaches their account.