Close Menu
    Facebook X (Twitter) Instagram
    • Our Story
    • Partner with us
    • Reach Us
    • Career
    Subscribe Newsletter
    HR KathaHR Katha
    • Exclusive
      • Exclusive Features
      • Research
      • Point Of View
      • Case In Point
      • Dialogue
      • Movement
      • Profile
      • Beyond Work
      • Rising Star
      • By Invitation
    • News
      • Global HR News
      • Compensation & Benefits
      • Diversity
      • Events
      • Gen Y
      • Hiring & Firing
      • HR & Labour Laws
      • Learning & Development
      • Merger & Acquisition
      • Performance Management & Productivity
      • Talent Management
      • Tools & Technology
      • Work-Life Balance
    • Special
      • Cover Story
      • Editorial
      • HR Forecast 2024
      • HR Forecast 2023
      • HR Forecast 2022
      • HR Forecast 2021
      • HR Forecast 2020
      • HR Forecast 2019
      • New Age Learning
      • Coaching and Training
      • Learn-Engage-Transform
    • Magazine
    • Reports
      • Whitepaper
        • HR Forecast 2024 e-mag
        • Future-proofing Manufacturing Through Digital Transformation
        • Employee Healthcare & Wellness Benefits: A Guide for Indian MSMEs
        • Build a Future Ready Organisation For The Road Ahead
        • Employee Experience Strategy
        • HRKatha 2019 Forecast
        • Decoding and Driving Employee Engagement
        • One Platform, Infinite Possibilities
      • Survey Reports
        • Happiness at Work
        • Upskilling for Jobs of the Future
        • The Labour Code 2020
    • Conferences
      • Rising Star Leadership Awards
      • HRKatha Futurecast
      • Automation.NXT
      • The Great HR Debate
    • HR Jobs
    WhatsApp LinkedIn X (Twitter) Facebook Instagram
    HR KathaHR Katha
    Home»News»IR & Labour Laws»EPFO lowers interest rate for 2019-2020
    IR & Labour Laws

    EPFO lowers interest rate for 2019-2020

    HRK News BureauBy HRK News BureauMarch 6, 2020Updated:March 6, 20201 Min Read5589 Views
    Share LinkedIn Twitter Facebook
    Employees' Provident Fund Organisation (EPFO). (File Photo: IANS)
    Share
    LinkedIn Twitter Facebook

    The Employees’ Provident Fund Organisation announced its plan to reduce interest on provident fund for the current fiscal year, 2019-2020. The plan is to reduce the interest by 0.15 per cent as the PF interest rate for 2018-2019 was 8.65 per cent.

    Labour Minister Santosh Gangwar reported that the interest rate has been cut, and brought down to 8.50 per cent. Since the savings of over six crore employees is in question, the same has to be approved by the Finance Ministry of India.

    The Central Board of trustees comprising many employers and employees met the Labour Minister and a decision was made to lower the interest rate of employees’ provident fund accounts for the year ending March 2020.

    Although the Finance Ministry is yet to take a call on the reduced interest rate, it has been in talks with the Labour Ministry to align the EPF interest rates with other government saving schemes, such as post office saving and public provident fund.

    EPFO assists the Central Board in administering the compulsory contribution towards the Provident Fund Scheme, Pension Scheme and Insurance Scheme for the workforce engaged in the organised sector in India.

    Share. LinkedIn Twitter Facebook
    HRK News Bureau

    Leave A Reply Cancel Reply

    15 + four =

    Related Posts

    Telstra to cut 550 jobs in latest phase of overhaul

    July 11, 2025

    Internal criticism hits Meta’s AI division amid growing discontent

    July 11, 2025

    Boss allegedly targets employee for using ‘open to work’ tag on LinkedIn

    July 11, 2025

    TCS’ net headcount increases by 5,090 employees in the June quarter

    July 11, 2025

    QUICK HR INSIGHTS

    EDITOR'S PICKS

    How a thumbs-up became a generational minefield

    July 11, 2025

    Why HR must unite hiring and development to survive

    July 10, 2025

    The 5-to-9 Trap: Is Gen Z’s quest for perfect evenings fuelling a new burnout?

    July 9, 2025

    How AI is creating a workforce of the mentally walking dead

    July 8, 2025
    Latest Post

    Telstra to cut 550 jobs in latest phase of overhaul

    News July 11, 2025

    Telstra, the Australian telecommunications provider, has announced plans to reduce its workforce by 550 employees…

    Internal criticism hits Meta’s AI division amid growing discontent

    News July 11, 2025

    Meta’s artificial intelligence ( AI) division is facing fresh internal criticism as concerns about its…

    NASA to lose over 2,000 senior employees amid budget restructuring

    Global HR News July 11, 2025

    In a significant shake-up at the US National Aeronautics and Space Administration (NASA), over 2,100…

    Boss allegedly targets employee for using ‘open to work’ tag on LinkedIn

    News July 11, 2025

    A workplace incident has sparked conversation on Reddit after an Indian employee claimed they were…

    Asia's No.1 HR Platform

    Facebook X (Twitter) Instagram LinkedIn WhatsApp Bluesky
    • Our Story
    • Partner with us
    • Career
    • Reach Us
    • Exclusive Features
    • Cover Story
    • Editorial
    • Dive into the Future of Work: Download HRForecast 2024 Now!
    © 2025 HRKatha.com
    • Disclaimer
    • Refunds & Cancellation Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.