EPFO has taken a big step!!!
There is a continuous reduction in the interest rates on EPFO. In such a situation, people's fascination with investing in EPFO is being dissolved, but if you are also planning to withdraw your hands from this investment, then this news is of your use. If you are troubled by the low interest available on PF, then this complaint of yours is going to be resolved soon. After the Employee Provident Fund Organization (EPFO) plan is stamped, you will get more interest on the EPFO account than before.
The government extended a special plan
Actually, preparations are being made by the Employees' Provident Fund Organization (EPFO) to give good news to crores of subscribers. EPFO has taken a big step in trying to give a better EPFO interest rate to the account holders. It is worth noting that at present, 8.1 percent interest is being given to PF account holders by EPFO. This is the lowest interest rate in the last 40 years, due to which the government was also being targeted.
Interest rates may increase
Now with the new step of EPFO, the EPFO interest rate may increase in the coming years. The 8.50 percent interest rate was announced by the Employees' Provident Fund Organization (EPFO) for the financial year 2020-21, but the interest rate available in 2022 has come down.
According to a report, EPFO is going to increase the equity investment limit from 15 percent to 25 percent. Crores of subscribers are expected to benefit from this move of EPFO in the future. This proposal of EPFO has been approved by the Finance Investment Committee.
The proposal has been passed
The proposal passed by the Finance Investment Committee is expected to be approved in the meeting of the Central Board of Trustees to be held at the end of the month. Let us tell you that at present 15 percent of EPFO is invested in equities and the rest in debt, but now EPFO is going to set the investment limit of 15 to 20 percent and then 20 to 25 percent in a phased manner.
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