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Over 6 cr EPFO members to get 8.65 pc interest for 2018-19: Labour minister

Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19

By PTI
PTI file photo
PTI file photo Minister of State for Labour & Employment Santosh Kumar Gangwar

Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 per cent interest on their deposits for 2018-19.

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The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal in February this year.

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The proposal was sent for the concurrence of the finance ministry.

"...ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19," Gangwar told reporters on the sidelines of a function here.

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At present, the EPFO is settling PF withdrawal claims at 8.55 per cent interest rate, which was approved for 2017-18.

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