Government hikes provident fund rate under EPFO to 8.65%

Government hikes provident fund rate under EPFO to 8.65%

The Employees’ Provident Fund (EPF) rate has been hiked The Employees’ Provident Fund Organization (EPFO)for the first time since 2016

Much to the delight of salaried employees, the Employees’ Provident Fund Organization (EPFO) Thursday hiked the Employees’ Provident Fund (EPF) rate to 8.65 per cent for 2018-19 from 8.55 per cent last year. The rates have been hiked for the first time since 2016.

The move, according to experts, is in line with a raft of populist announcements made by the Narendra Modi government ahead of Lok Sabha elections in April-May this year.

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