April 29, 2024 05:58 (IST)
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Interest on EPF deposits slashed by 0.15 pc
New Delhi, Dec 19 (IBNS) : Contrary to speculations, the provident fund body - the Employees Provident Fund Organisation ( EPFO) on Monday lowered the interest on EPF deposits by 0.15 per cent , reports said.
The rate has been reduced to 8.65 per cent from 8.8 per cent.
The decision is likely to impact over four crore employees who contribute part of their salary towards the provident fund kitty.
Experts had expected EPFO to retain the status quo maintaining the present interest rate for the current fiscal year.
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