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No changes in PF return rate in the financial year 2020-21

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No changes in PF return rate in the financial year 2020-21
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PF account holders were waiting for the new interest rate of EPFO ​​since this morning. The EPFO ​​meeting in Sri Nagar has fixed the interest for the financial year 2020 -21. EPFO has a fixed interest of 8.5% for the financial year 2020 -21.

Let us tell you that before this everyone felt that the interest rate could be reduced because of the Corona period, there were indications that the interest on PF could be useful this year. But the EPFO ​​did not make any change in this and has kept the same interest as last year.

Due to Corona, many people were fired from their jobs, due to which many people had taken out advance from their PF and it was difficult for EPFO ​​to pay interest at the same rate.

The Ministry of Labor and Employment stated that the Board of Trustees has kept the interest rate for 2021 as EPFO ​​has received income from loans and shares, due to which they are giving astray returns to their subscribers.

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