EPFO interest rates hiked, good news for 6 crore members

New Delhi, Sep 17: The EPFO Interest rates have been hiked. This comes as good news for 6 crore EPFO members.

The EPFO members will now get 8.65 per cent interest on their deposits for 2018-19 confirmed union labour minister, Santosh Gangwar. The Central Board of Trustees had approved 8.65 per cent interest rate for the last fiscal in February this year. The proposal was sent for the concurrence of the finance ministry.

The interest rates have been increased by ten basis points. Currently, the EPFO settles PF withdrawal claims at 8.55 per cent. Ahead of the festival season, over 6 crore EPFO subscribers would get 8.65 per cent interest for 2018-19, Gangwar also said.