There is good news for employees working in the private sector. The Employees Provident Fund Organization (EPFO) can give the New Year gift in the month of December. Media reports are being told that EPFO will soon transfer lump sum interest in the PF accounts of about 19 crore employees working in the private sector.
Explain that this organization of employees had decided to pay interest at the rate of 8.5 percent for the first financial year 2019-20 before Diwali. This money of interest was to be deposited in two installments in the PF account of the employees. 8.15 percent of the interest amount was to be sent to the employees’ accounts at the time of Diwali, which has not yet been inserted. At the same time, 0.35 percent amount was to be sent by the end of December as the second installment.
It is being told in media reports that the EPFO has completed preparations to add lump sum of interest to the PF accounts of the employees. Now only waiting for approval from the Finance Ministry. According to information received from a senior EPFO official, due to the market boom, EPFO has accumulated double the surplus amount as compared to the estimate made three months ago.
