HomeFinanceA Pre-Diwali Dhamaka Is On The Way For The Members of EPFO,...

A Pre-Diwali Dhamaka Is On The Way For The Members of EPFO, Check What Is That

The Employees’ Provident Fund Organisation (EPFO) is scheduled to transfer the first instalment of 8.5 per cent for the 2019-20 fiscal year to EPF (Employees’ Provident Fund) subscribers by Diwali, a representative of the EPF advisory board notified Live Hindustan, the partner publication of the Hindustan Times. The retirement fund authority has already proposed that as financial uncertainty in the aftermath of the pandemic, the interest rate for 2019-20 to be paid in two instalments impacted its equity investment revenue.

Also read: 7 Things You Must Know About EPFO If You Are A Member of It

According to Live Hindustan, the first instalment of 8.15 per cent will be credited to the accounts of its 50 million subscribers by Diwali. As stated in September, the balance of 0.35 per cent will be paid from the sale in December of investments in exchange-traded equity funds. The 8.5 per cent interest rate is lower than the prior year’s 8.65 per cent.

Mohit
Mohit is a Freelance content writer. He has been writing content related to Finance since last 8 years. He has done MBA in finance and has experience in writing finance related articles.

5 COMMENTS

  1. Despite submitting our Pramaan id’s nos.3940211882 & 3805761020 of Russel Michael & Celine Michael respectively to Bandra (W) EPFO & Thane (W) EPFO alongwith covering letters to Bank of India, Thane (W) Branch. Our pension is not get credited to our Pension a/c nos. 004310100037632 & 004312110003302.

  2. We are senior citizens. Kindly ensure our Pension amounts are credited to our Bank accounts. Thank You.

  3. I haven’t received my PF amount of Rs 7323 Member -Id 0118
    Claim receipt date -19th Dec2019
    Claim status mentioned setteĺed
    But I haven’t received
    Please note
    Thanks

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