Employee Provident Fund Organisation To Pay 8.5% Interest In Two Phases Due To Covid | Read

The central board of trustees of retirement fund body - Employees' Provident Fund Organisation (EPFO) - decided to keep the interest rate unchanged at 8.5 per cent for financial year 2019-20. However, the interest payable to provident fund subscribers will be paid in a staggered manner due to exceptional circumstances arising out of Covid-19 pandemic, Ministry of Labour & Employment said in a press release. For now the EPFO will pay interest rate at 8.15 per cent and remaining 0.35 per cent will be credited by December, the ministry noted.