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HomeBusinessGovt notifies 8.1% EPF rate for 2021-22 - Times of India

Govt notifies 8.1% EPF rate for 2021-22 – Times of India

NEW DELHI: The finance ministry on Friday permitted the Employees’ Provident Fund Organisation’s proposal in March to rationalise rates of interest from 8.5% to eight.1% 2021-22, in a transfer that paves manner for payouts to over 6.4 crore subscribers.
Amid falling rates of interest, the retirement financial savings company needed to convey down charges to the bottom since 1977-78 however the returns are increased than a number of comparable schemes, particularly for those that are underneath the tax threshold. The minimize in rates of interest is predicted to depart the EPFO with a surplus of Rs 450 crore throughout the monetary yr. Compared to earnings of 8.5% on the corpus final yr, this yr, EPFO has estimated an revenue of Rs 76,768 crore.

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