Hike in interest on PF deposits
Posted on: 06/Mar/2014 5:17:22 PM
Now, those who are getting interest out of their PF deposits can be happier than before, as you�d enjoy 8.75 per cent interest in 2013-14. From the 2012 � 13 interest rate of 8.5 per cent, the government has now agreed to increase the interest rate by 0.25 per cent and now, the interest rate for 2013-14 is increased to 8.75 per cent.
The overall income of Employees� Provident Fund Organization (EPFO) is Rs 25,048.55 crore out of which in case of 8.75 per cent interest rate, it will have to pay out Rs 25,005.41 crore which leaves it with surplus amount of Rs 43.14 crore.
