Govt notifies 8.55% interest on EPF accounts for 2017-18

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The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under Para 60(1) of Employees’ Provident Funds Scheme, 1952  to credit interest  @  8.55% for the year 2017-18 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952.

The EPFO’s Central Board of Trustees, headed by the labour minister, had decided to fix rate of interest at 8.55% for the last fiscal in its meeting held on February 21, 2018. However, it could not be implemented for want of the finance ministry’s concurrence and was further delayed due to model code of conduct for Karnataka polls on May 12.

Notification Attached- Declaration of Rate of Interest 2017-2018

 

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