New Delhi, Feb 21: Employees’ Provident Fund Organisation on Thursday increased interest rate on employees’ provident fund to 8.65% from 8.55% for the 2018-19 fiscal year.
The interest rate was 8.55 percent in the financial year 2017-18.
This is the first time since 2015-16 that the interest rate has been hiked.
The decision was taken at the Central Board of Trustees (CBT) meeting on Thursday.
The CBT, which is headed by Labour Minister Santosh Gangwar, is the apex decision making panel of the EPFO which approves rate of interest on provident fund deposits.