8.55% ‘PF Interest Rate’ notified by EPFO for FY 2017-18
The EPFO has notified 8.55% ‘PF Interest Rate’ for the Financial Year (FY) 2017-18, in line with approval of the Ministry of Labour & Employment, Govt. of India, for crediting interest in the account of respective subscribers/ members. It may be noted that Govt. concurrence/ vetting was held up due to Karnataka Elections/ Model Code of Conduct.
Earlier, on 21st Feb. 2018, the Central Board of Trustees (CBT) of EPFO had recommended PF Interest Rate of 8.55% for FY 2017-18 (as compared to 8.65% for FY 2016-17).
Mostly people are concerned with the issue as to ‘when epf interest will be credited for FY 2017-18‘? In this regard, it may be noted that first the CBT of EPFO recommends PF Interest Rate to the Govt. based on ROI as per the prescribed investment pattern and then final decision is taken by the Central Govt. So formal procedure for crediting interest for FY 2017-18 has been completed and its expected that EPFO will soon credit the PF Interest to respective member’s account in due course.
Further, the process for determination of PF Interest Rate for FY 2018-19 is likely to start by Jan. 2019.
8.65% ‘PF Interest Rate’ notified by EPFO for FY 2016-17
PF Interest Rate for the FY 2016-17 has been notified at 8.65% by the EPFO, as under:
8.80% PF Interest Rate notified by EPFO for FY 2015-16
PF Interest Rate for the FY 2015-16 has been notified at 8.8% by the EPFO, as under: