- Employees Provident Fund Organisation had decided to lower the interest on provident fund deposits for 2021-22 to 8.1% compared to 8.5% provided in 2020-21.
- This prescribed 8.1% EPF rate of interest is the lowest since 1977-78 when it stood at 8%.
- Later it has been increased to an 8.5% interest rate on EPF deposits for 2020-21 which was decided by the Central Board of Trustees.
- The interest rate on provident fund deposits has also gone down to a seven-year low in March 2020. i.e 8.5%.
- Apart from that EPFO has also added 1.53 million subscribers in March this year, over 19% more than 1.28 million enrolled in February.
- Many experts believed that these rates should be unchanged as inflation is very high and it goes against real social security returns.
Question:
Q.1 Recently EPFO had decided to lower the interest on provident fund deposits by what percentage?a. 8.2%
b. 8.7%
c. 8.5%
d. 8.1%
