It has been reported that the Employee provident Fund organization has decided to offer rate of 9% on the PF funds. EPFO has increased the rate offered from 8.75% to 9%. Now more than five crore subscribers of the EPFO will now get the interest rates of 9%.
According to the sources it has been reported that after the coming of the new central government, the expectation of the higher yields by the body on various funds was raised. EPFO collected a deposited of nearly Rs 5 lakh crore. An increase of 16% was noticed in the deposits from its subscribers under social security schemes run by it during 2013-14, EPFO is also expected to improve yields or returns on its investment under the new norms. After the improved market conditions EPFO can easily provide an interest rate of 9% on PF deposits.