The government has approved 8.1 per cent rate of interest on employees’ provident fund (EPF) deposits for 2021-22 — an over four-decade low — for about five crore subscribers of retirement fund body EPFO.

• The government has approved 8.1 per cent rate of interest on employees’ provident fund (EPF) deposits for 2021-22, an over four-decade low for about five crore subscribers of retirement fund body Employees’ Provident Fund Organisation (EPFO).
• Earlier in March this year, EPFO had decided to lower the interest on provident fund deposits for 2021-22 to 8.1 per cent from 8.5 per cent provided in 2020-21.
• Now, after the ratification of the interest rate by the government, the EPFO would start crediting the fixed rate of interest for the fiscal into the EPF accounts. 
• The 8.1 per cent EPF rate of interest is the lowest since 1977-78, when it stood at 8 per cent.

By: Brijesh Kumar