2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the revised interest rate of Employee’s Provident Fund (EPF) for 2018-19?
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8.45 %
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8.55 %
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8.35 %
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8.65 %
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Explanation:
Detailed explanation-1: -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: -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-3: -However, the PPF interest rate has been falling consistently since 2013. While the PPF investment limit was increased from Rs 1 lakh/year to Rs 1.5 lakh/year in 2014, the interest has been reduced by 1.7% from 8.8% to 7.1% between 2013 and 2022, as per official data.
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