EPFO : The fate of PF employees has opened, the huge amount going to the account, know everything

New Delhi: Soon, the Central Government is going to once again hit the PF employees, which will benefit crores of people. 

EPFO, which deducts PF, is soon going to make a big announcement on the amount of interest. If someone’s PF is deducted in your house, then you have fun.

The meeting of the EPFO ​​Central Board of Trustees is going to be held in Guwahati this month, in which a big announcement can be made.

According to Union Labor Minister Bhupendra Yadav, EPFO ​​will maintain the interest rate of 8.5 percent for 2021-22 as in 2020-21. This decision has to be taken on the basis of estimates of earnings for the next financial year. Bhupendra is also the chairman of CBT.

The Central Board of Trustees had fixed the interest rate of 8.5 percent on EPF deposits for the year 2020-21 in March 2021. The Finance Minister had approved this rate in October 2021.

After that the EPFO ​​directed its field offices to deposit 8.5 percent interest in the pensioner’s accounts for 2020-21. After the decision on the interest rate by the CBT, it is sent for the approval of the Ministry of Finance.

In March, 2020, the EPFO ​​had reduced the interest rate on provident fund deposits to a seven-year low of 8.5 percent for 2019-20. EPFO had given an interest of 8.65 percent in 2018-19. At the same time, interest of 8.65 percent was given in the year 2016-17 and 2017-18 also.

The interest rate in 2015-16 was 8.8%. Apart from this, in the year 2013-14, 8.75 percent and in 2014-15 also 8.75 percent interest was given. However, the interest rate was 8.5 per cent in 2012-13 and 8.25 per cent in 2011-12.

The Revenue Department in its recent notification (dated 15-02-2022) has notified government employees with GPF membership of more than Rs 5 lakh in the financial year 2021-22 about “interest earned by them before salary bills”. asked to do. The months of February 2022 are ready for deduction of TDS from salary and allowances.