Monday, March 19, 2018

EPFO Rate of Interest

EPFO Rate of Interest

The declared rate of interest on Employees” Provident Fund (EPF) paid to the subscribers during the last three years is as under:
Year      
Rate of Interest (in per cent.)
Date on which Rate of Interest declared
2014-15
8.75
23.01.2015
2015-16
8.80
23.05.2016
2016-17
8.65
24.04.2017
The interest rate on EPF is determined by the Central Government in consultation with the Central Board. The Central Board of Trustees (CBT), Employees’ Provident Fund (EPF), in its meeting held on 21.02.2018, has recommended 8.55 per cent. rate of interest to EPF subscribers for 2017-18. The proposal has now been sent to the Ministry of Finance for their concurrence to the interest rate of 8.55 per cent to the EPF subscribers for the year 2017-18.

Approximately 19,97,84,374 number of accounts of account holders are likely to be credited with the statutory rate of interest declared for the year 2017-18.

This information was given by the Minister of State for Labour and Employment Shri Santosh Kumar Gangwar in a written reply to a question in Lok Sabha on 19.3.2018.

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