If you have a PF account, there is some good news for you. Finally, the money in PF account holders' provident funds is set to arrive.
The PF deducting organization will shortly deposit interest money into EPFO employees' accounts. More than 6 crore individuals will gain from this. For PF employees, the Central Government has already declared an interest rate of 8.1%.
PF money can be expected on June 30
Because the PF interest rate is predetermined, most employees want their PF interest to be deposited into their accounts as soon as possible. If the news in the media is accurate, the EPFO can deposit PF interest in the PF account till the end of June, i.e., June 30th. However, no formal statement has yet been issued on the subject.
Lowest interest in last 10 years
The EPFO has set the interest rate for fiscal year 2021-2022 at 8.1%, which is the lowest rate in the last ten years. This decision of the government shocked about 6 crore people of EPFO. PF received 8.5% interest in the previous fiscal year.
How much interest was received before this?
In the fiscal year 2019-2020, EPFO paid 8.5 % interest. Following that, just 8.5% interest was received in fiscal years 2020-2021. EPFO, on the other hand, paid 8.65% interest in 2018-19.
Interest of 8.55% was received in the 2017-18 fiscal year. 8.65% interest was received in fiscal year 2016-17, while 8.8% interest was received in fiscal year 2015-16.
