EPF Interest Rate increased by 0.35% for Current Fiscal.

Interest rate on employees' provident fund will be increased to 8.60% in the current fiscal from 8.25% now. Labour Minister Mallikarjun Kharge said in the Rajya Sabha while replying a debate on working of Labour Ministry. He said next time, it will be 8.60%.

The Employees' Provident Fund Organization had brought down the rate of interest to 8.25% for 2011-12 from 9.50% per cent provided in 2010-11.

The retirement fund body EPFO has parked in excess of 55,000 crore rupees in the Special Deposit Schemes (SDS) aimed at providing better returns to non-government provident funds and other such funds. Kharge said the rate of interest on funds depend on the revenues.


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