CURRENT AFFAIRS

Detailed explanation-1: -The government has approved a four-decade-low interest rate of 8.1 percent on Employees’ Provident Fund (EPF) deposits for 2021-22, down from 8.5% in the previous year. This will pave the way for crediting interest into the accounts of over sixty million EPFO subscribers in 2021-22 earlier than usual.

Detailed explanation-2: -Union Budget 2023 Outcome The TDS rate has been reduced from 30% to 20% on taxable withdrawal of EPF for individuals who do not posses PAN. The government has decided to retain the EPF interest rate of 8.1% for the financial year 2021-22.

Detailed explanation-3: -Current EPF Interest Rate 2022-23 The current EPF interest rate stands at 8.10%. This interest rate is valid for all the transactions made from 1st April 2022 to 31st March 2023.

Detailed explanation-4: -EPFO interest credit for 2021-22 news There will be no loss of interest,” it added. The process of crediting interest is ongoing and it will get reflected into your account soon. Whenever the interest is credited, it will be paid in full. There will be no loss of interest.

Detailed explanation-5: -Employees Provident Fund Interest Rate Calculation 2022: The applicable interest rate on EPF contribution for the financial year 2021-22 is 8.10%. Employees Provident Fund Interest Rate Calculation 2022: The applicable interest rate on EPF contribution for the financial year 2021-22 is 8.10%.