EPFO has hiked interest rate on employees provident fund to.....from 8.55% for the 2018-19 fiscal year.

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

EPFO has hiked interest rate on employees’ provident fund to____from 8.55% for the 2018-19 fiscal year.

A	8.80%
B	8.70%
C	8.75%
D	8.65%

Explanation:

Detailed explanation-1: -Revised EPF Interest Rate for 2019-20 : Lowered by 0.15% Earlier in the year 2016-17 and 2018-19, the EPFO had given an 8.65% rate of interest to the subscribers.

Detailed explanation-2: -“The CBT, EPF had recommended 8.10 per cent rate of interest on EPF for the financial year 2021-22, which has been approved by the Government and is higher than other comparable schemes viz. General Provident Fund (7.10%)/Senior Citizens Savings Scheme (7.40%)/Sukanya Samriddhi Account Scheme (7.60%).

Detailed explanation-3: -The EPF Interest Rate for 2022-23 is fixed at 8.10%. This rate is valid for all deposits made from 1st April 2022 to 31st March 2023.

Detailed explanation-4: -Since then, the Employees’ Provident Fund Organisation (EPFO) has split EPF passbooks for 2021-22 into taxable and non-taxable contributions, but the interest credit is still to be made to many EPF account holders.

There is 1 question to complete.