Big shock: EPF diminished curiosity, know loss

by Jeremy Spirogis
India's cleanest city for 4th consecutive time

new Delhi. The Employees Provident Fund Organization [EPFO], which manages the retirement fund, has suffered a significant setback. It has introduced 8.55 per cent rate of interest for the yr 2017-18. This rate of interest is the bottom within the final 5 years. This fund is deposited after deducting cash from the wage of the worker. This cash is given to the worker upon his retirement. But the affect of low curiosity on this impacts his later life. The EPFO ​​presently has 5 crore members.

Order issued to regional places of work

According to the order issued by the Employees' Provident Fund Organization, or EPFO, the federal government has acquired an order from the Labor Ministry to take action. <! –

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After this, the Employees Provident Fund Organization [EPFO] has issued an order to their regional places of work to challenge curiosity within the members' account in accordance with this rate of interest.

Know the curiosity of earlier years

The EPFO ​​paid 8.6 per cent curiosity within the monetary yr 2016-17. At the identical time, this rate of interest was 8.Eight % within the monetary yr 2015-16. Earlier, the rate of interest was 8.75 per cent in 2014-15 and 2013-14. Earlier within the monetary yr 2012-13, EPFO ​​paid 8.5% curiosity. Thus it’s the lowest rate of interest within the final 5 years.

Complain on-line in case you have issues with EPFO

If there’s a downside with the EPFO, then now you can file a criticism on-line. They will be resolved by registering EPF withdrawals, EPF account transfers, KYC associated points and related complaints on the EPFO ​​web site. However, to register a criticism, it’s essential to have a common account quantity or PPO quantity.

This is EPFO ​​web site

http://www.epfigms.gov.in

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