નોકરીયાત વર્ગને મોદી સરકાર આપી શકે છે મોટો ઝાટકો, આ સ્કીમના વ્યાજ દરમાં ઘટાડાની શક્યતા

 New Delhi: The EPFO ​​may announce interest rates on provident funds for the financial year 2020-21 on March 4.

The Central Board of Employees Provident Fund Organization (EPFO) is scheduled to meet in Srinagar on March 4. The meeting is expected to decide whether to announce interest rates for 2020-21.

Kei Raghunath, a member of the EPFO ​​board, said he was informed on Monday that the next meeting of the central board would be held in Srinagar on March 4. The agenda of the meeting will be sent soon. He said there was no mention of a discussion on interest rates for 2020-21 in the email regarding the meeting's notification.

There is speculation that EPFO ​​may cut interest rates on PF for this financial year (2020-21), which was 8.5 per cent for 2019-20.

The fall in interest rates over the last few years has also had a huge impact on PF income. Let it be known that EPFO ​​holds most of its stake in government securities. In previous years the government had decided to give 8.5 per cent interest for FY20 which was the lowest in the last seven years. The rate was 8.65 per cent in the 2019 financial year.

ગુજરાતીમાં વાંચવા માટે અહી ક્લિક કરો

The bad news about the Provident Fund also came in Budget 2021, which changed the rule of tax exemption on contributions to PF. The new rules reduce the interest rebate on PF for people with high income brackets. If a person's annual contribution to PF is more than Rs 2.5 lakh, he will have to pay tax on the interest earned on the amount in excess of Rs 2.5 lakh.

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