Finance Ministry Approves 8.65% Interest Rate on EPF for 2016-17

The move will enable the retirement fund body to credit this rate of return into the accounts of 4 cr subscribers.

Finance Minister Arun Jaitley. (Photo: PTI)

• The Finance Ministry has approved 8.65 percent interest rate on Employees’ Provident Fund (EPF) for 2016-17.
• The ratification of the interest rate will enable the retirement fund body EPFO to credit this rate of return into the accounts of four crore subscribers.
• The Finance Ministry had been asking the Labour Ministry to rationalise the EPF interest rate, in view of lowering of returns on various administered savings schemes like PPF.

(With inputs from PTI.)