EPF Interest Rate Reduced to 8.1% for FY22, low to Four Decades

Current Context: The Employees Provident Fund Organisation (EPFO) has reduced its interest rate on provident fund deposits to 8.1% for 2021-22 i.e. FY22.

• This reduction is 0.4% lower than the previous year. It was 8.5% in 2020-21 and 2019-20.
• However, this reduction in the interest rate on provident fund deposits is witnessed as is the lowest in more than four decades.
• In 1977-78, EPFO had credited 8.0% as the interest rate, and since then it has been either 8.25% or more.
• The 8.1% interest rate was recommended by the Central Board of Trustees (CBT) in a meeting which was held under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav.
• The 8.1% annual rate of interest will be credited on EPF accumulations in accounts of members for the FY2021-22.
• After paying an 8.1% interest rate, EPFO will have a surplus of around Rs 450 crore.
• Static Part: 
• HQ of EPFO: New Delhi

Question: 

Q.1 The Employees Provident Fund Organisation (EPFO) has reduced its interest rate on provident fund deposits to ___for 2021-22?
a. 8.4%
b. 7.9%
c. 8.1%
d. 8.5%