New Delhi: Employees Provident Fund Organization (EPFO), the body managing the retirement fund, has started paying 8.5% interest on Employees Provident Fund (EPF) for 2019-20 to over 6 crore shareholders. Giving information, a senior official has told that most members of the EPFO will be able to view their updated EPF accounts with interest rate of 8.5 percent for 2019-20.

The official further said that the Labor Ministry had already sent a directive to pay 8.5% interest on EPF for 2019-20, the body has started depositing interest in the accounts of the account holders for the last financial year. Labor Minister Santosh Gangwar said that we had said that we will try to pay 8.5 percent interest on the EPF for 2019-20.

He further said that we have issued a notification to pay 8.5 percent interest on EPF for 2019-20. We have started the process of depositing the said rate of interest in the accounts of the shareholders. He said that the members who retire on December 31, will get 8.5 percent interest (for 2019-20).

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