Update Regarding EPFO Interest Rates
It doesn’t matter if you are in a private job or government, you may both get the benefits from this new update before next month. Employees Provident Fund Organisation’s CBT board is going for a meeting on March 12, 2022. The meeting is going to be conducted by the CBT board in which they can discuss the interest rates of EPFO for the current fiscal year. CBT stands for Central Board of Trustees and will decide the interest rates for the current financial year in the upcoming meeting. After the report is completed the board will submit it to the Finance Ministry. According to the predictions we can assume, if the condition goes favourable then interest rates can stay at 8.5% for the current fiscal year.
EPFO Interest Rates Can Remain Same
The current fiscal year was very challenging for the EPFO. But it didn’t affect the decision of EPFO, it can sell a portion of its equity to pay off 8.5% interest rates. If we talk about the investments by EPFO then they are not much. Investments in bonds were less than expected and capital investment is not performed. However, EPFO invests 15% in equity and the rest was in debts. Now for the final decision, we have to wait till the March meeting.
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EPFO Given 8.5% Returns in 2020-21
For the financial year, 2020-21 EPFO paid 8.5% interest rates to the members. The most effect of this meeting is going to be on middle-class salaried citizens. Date March 12, 2021, is the most important for all the EPF members as the interest rates for the current fiscal year are to be declared.
Lists of Interest Rates Given For The Particular Years
- 8.75% in 2014 & 2015
- 8.80% in 2016
- 8.65% in 2017
- 8.55% in 2018
- 8.65% in 2019
- 8.5% in 2020
- 8.5% in 2021
- For 2022 will declare on March 12, 2022
