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EPFO: Those who are stuck on PF interest, they will get more money- Learn how

Around 40-50 lakh people across the country may have to wait longer for EPF interest. Due to technical problem, it may take 15-20 days to get interest money in the accounts of these people. The reason behind this is being told that if there is any problem in the EPF account of any person in any company, the interest of the people of that entire institution is not being credited to their accounts through software. According to a senior official associated with the case, work on software changes is continuing on a war footing. It is expected that within the next 15-20 days the interest amount will also reach the accounts of the survivors.

Additional interest will be

received for the delay. The  officer said that any delay of the days from the notification period due to technical difficulties will also be credited to the accounts along with the interest of the people. The central government had announced to pay EPF interest for the financial year 2019-20 in the accounts of the people on 31 December 2020, just before the start of the new year.

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Lump sums will be

announced by Labor and Employment Minister Santosh Gangwar that people will be with a full interest of 8.5 percent. Earlier the government was preparing to give this amount in two parts. Its first 8.15 per cent was to reach accounts by Diwali last year. The remaining 0.35 per cent was to be given in December. But then it was decided to give the entire amount outright in December itself. There are about six and a half crore EPF accounts in the country to which people contribute.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @
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