The interest rate for the contributory Provident Fund for employees has been increased.
For the employees who have joined fresh, the scheme of Contributory Provident Fund is applied.
Under this scheme, for the monthly amount of PF deducted from the salary, the interest rate was fixed at 7.6% for the period from 1st July to 30th September.
Presently, it has been decided to increase the PF interest rate for the period from 1st October to 31st December at 8% and the state government of Tamil Nadu has announced the same. The order has been released by the Secretary of the Finance Department, Shanmugam.