The Central Board of Trustees of the Employees Provident Fund Organisation (EPFO) on Thursday hiked the interest rate on PF deposits from 8.55% to 8.65%.
This move will benefit more 6 crore EPFO subscribers.
The decision was taken in the 224th meeting of the Central Board of Trustees (CBT).
The EPFO had provided a five-year low rate of interest of 8.55 per cent to its subscribers for 2017-18. The body had kept the interest rate at 8.65 per cent in 2016-17 and 8.8 per cent in 2015-16. It provided 8.75 per cent interest for 2013-14 as well as 2014-15. The rate of interest was 8.5 per cent in 2012-13.