Employees’ Provident Fund Organisation (EPFO) is looking to raise the interest rates on the EPF from the current level of 8.55 percent, making it one of the most rewarding savings schemes, Mint reported.
Though the annual internal review is yet to be concluded, three officials with knowledge of the development told Mint that there was a good chance the rate would be hiked.
At the least, it will be retained at the existing level, said the report.
In 2018, the average interest rate of the Public Provident Fund and the National Savings Certificate was 7.7 percent.
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