2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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8.7 %
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8.24 %
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8.65 %
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8.31 %
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Detailed explanation-1: -It had provided 8.65 per cent rate of interest for 2016-17 and 8.55 per cent in 2017-18. The rate of interest in 2015-16 was slightly higher at 8.8 per cent. The EPFO invests 85 per cent of its annual accruals in the debt market and 15 per cent in equities through exchange-traded funds.
Detailed explanation-2: -The current EPF interest rate is the lowest in the four decades. It was 8.5% in the previous year. From 2016-17, EPF rates remained at or about 8.5%. It was 8.65% in 2018-19, 8.55% in 2017-18 and 8.65% in 2016-15.
Detailed explanation-3: -The Labour Ministry has recently proposed to slash the interest rate by 0.4% to 8.1% from 8.5% earlier for the FY 2021-22. The decrease in interest rate will be a big blow to salaried individuals. This is because calculations related to retirement corpus is dependent on EPF contributions and its interest rate.
Detailed explanation-4: -The rate of interest was slightly higher at 8.8 per cent in 2015-16. It had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13. The rate of interest was 8.25 per cent in 2011-12.
Detailed explanation-5: -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.