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PF rates likely to be cut, EPFO meet today

Mar 04, 2021 07:22 IST | By Editorji News Desk

Salaried class gear up to take another hit as reports indicate the govt could lower the rate of interest on provident fund for FY’21. The rate currently stands at 8.5% which is the lowest in 7 years.  

The EPFO Central Board of Trustees will meet today in Srinagar chaired by the Union Labour Minister Santosh Kumar Gangwar.  

Heavy withdrawals have hit the EPFO corpus in the pandemic year, meanwhile 6 lakh subscribers were also hit with delayed interest payouts on their savings in FY’20.