Finance Guru Speaks: Interest rate on Employees' Provident Fund (EPF) will be increased to 8.6 per cent for the current fiscal 2012-13, a move which will benefit around five crore subscribers.
The Employees' Provident Fund Organisation (EPFO) had brought down the rate of interest to 8.25 per cent for 2011-12 from 9.5 per cent provided in 2010-11.
The retirement fund body EPFO has parked in excess of Rs 55,000 crore in the Special Deposit Schemes (SDS) aimed at providing better returns to non-government provident funds and other such funds.
EPF’s Interest Rates in brief:
Year 2012-13: 8.6%
Year 2011-12: 8.25%
Year 2010-11: 9.5%
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