01-Oct-2012
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Provident Fund interest rates are announced every year before the Financial year begins so that its 5 crore contributors can take appropriate investment decisions.
Provident Fund interest rates are announced every year before the Financial year begins so that its 5 crore contributors can take appropriate investment decisions. The PF interest rate was reduced from 9.5% to 8.25% for the year 2011-12 and EFPO hopes to offer 8.6% this year to all PF account holders. EFPO, the organisation that manages and calculates PF interest rates has however said that the 8.6% rate is tentative and that it still needs to do some additional calculations to finalise the rate.
Source:www.financialexpress.com, October 1, 2012. “EPFO yet to finalise rate of interest”