PF Interest Rate FY 2016-17 (and FY 2015-16)
A. PF Interest Rate FY 2016-17 at 8.65%: MoF ratifies rate recommended by CBT
Central Board of Trustees of EPFO had decided on 19 Dec. 2016 to recommend PF Interest Rate for FY 2016-17 at 8.65%, keeping in view the Return on Investments, etc., pending Govt. approval. The Ministry of Finance, GoI has ratified the rate recommended by EPFO, i.e. 8.65%, for which Notification has been issued by EPFO, as under:
B. PF Interest Rate FY 2015-16 at 8.8%: Rate ratified/ restored by MoF in line with CBT Recommedations
The MoF has reviewed it’s earlier decision and has restored the PF Interest Rate for 2015-16 at 8.8% in line with the rate finalised by the CBT of EPFO.
It may be noted that the EPFO pays/ credits interest to Members on their PF Accumulations at the rate, determined each year by the Central Government based on recommendations from the Central Board of Trustees (CBT) of EPFO, which is dependent on return on investments (ROI) besides the pattern of investment prescribed by the Govt. from time to time.