Retirement fund body Employees Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to.....for 2017-18 from 8.65% for 2016-17.

BANKING GENERAL KNOWLEDGE

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

Retirement fund body Employees’ Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to____for 2017-18 from 8.65% for 2016-17.

A	8.35%
B	8.40%
C	8.45%
D	0.0855

Explanation:

Detailed explanation-1: -It should be noted that the current proposed PF Interest Rate for FY 2021-22 at 8.1% is the lowest of the interest rates paid by EPFO since 1977-78, i.e. at 8.5% (FY 2019-20 and 2020-21), 8.65% (FY 2018-19), 8.55% (FY 2017-18), 8.65% (FY 2016-17), and so on.

Detailed explanation-2: -“The EPFO has decided to provide 8.50 percent interest rate on EPF deposits for 2019-20 in the Central Board of Trustees (CBT) meeting held today”, states Gangwar. Earlier in the year 2016-17 and 2018-19, the EPFO had given an 8.65% rate of interest to the subscribers. It was 8.80% in 2015-16.

Detailed explanation-3: -The EPF rate was 8.65% in 2018-19 and 8.55% in 2017-18. In 2016-17, the EPF interest rate was at 8.65%.

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