EPFO Interest Rate: There will be good news on 28, EPFO will increase the interest! How much will be received this time – epfo interest rate epfo board to decide epf interest rate for 2022-23 on march 27th 28th meeting
[ad_1]
If the interest rate increases this time, it will be big news for six crore active members of the Employees’ Provident Fund Organization (EPFO). The interest rate for the financial year 2022-23 will be announced soon. This announcement can be made at the end of the meeting tomorrow. EPFO’s Central Board of Trustees (CBT) is meeting on March 27 and 28. Interest rates are decided every year in the CBT meeting in March. According to sources, the interest rate is unlikely to go below eight per cent. EPFO had earned well last year.
Last year has been good for EPFO
Last year has been very good for the Employees’ Provident Fund Organization (EPFO) in terms of earnings. EPFO’s income has increased. Explain that EPFO invests your funds in many places. From where he gets the returns. EPFO gives you interest on investment only through this earning. There are many reasons behind increasing the interest rates this time. If media reports are to be believed then interest rates may increase by 10 basis points. This means some interest can be done at 8.20 per cent. It is also possible that EPFO will keep the interest rates constant.
Due to this interest can increase
Banks are also one of the reasons why EPFO can increase the interest. After the increase in repo rate by RBI, banks have also increased their interest rates on deposits. Many banks are also giving tremendous interest of up to nine percent on deposits at this time. Now the earnings figures of EPFO are also coming. In such a situation, it is expected that EPFO will increase the interest rates.
EPFO Interest Rate: How much interest will be received on EPF, the rate will be discussed in today’s meeting
40 years lowest interest rate
The interest rate was reduced last time. It was reduced from 8.5 per cent to 8.1 per cent. This is the lowest interest rate in the last 40 years. Earlier in 1977-78, EPFO had given eight per cent interest. Since then the interest rate has been 8.25 per cent or more. Here, according to EPFO, the process of payment of interest on PF is currently underway. Soon interest money will be sent to the account of PF members. In October last year, the government had said that the interest is being credited to the PF account of the members. Although it is not showing in the statements. The tax rules were changed in the last financial year. EPFO is currently upgrading its software accordingly. Because of this also the interest is not showing in the statements.
Gold Price Today: Gold became expensive, old gold started coming out of the house, sales increased by 25 percent
see how much interest was paid in which year
| Year | Rate of interest |
| 2015-16 | 8.80% |
| 2016-17 | 8.65% |
| 2017-18 | 8.55% |
| 2018-19 | 8.65% |
| 2019-20 | 8.50% |
| 2020-21 | 8.50% |
[ad_2]
Source link
