EPFO reduced PF interest rates, Provident Fund will get 8.1% interest in 2021-22

There is bad news for about 6 crore employees of the country coming under the purview of PF. The Employees' Provident Fund Organization (EPFO) has decided to cut interest rates for the financial year 2021-22. That is, now you will get interest at the rate of 8.10% instead of 8.5%. This rate is the lowest in the last 40 years. In 1977-78, the EPFO ​​had given an interest of 8%.

In 1977-78, the EPFO ​​had given an interest of 8%. Since then it has been 8.25% or more. Talking about the last two financial years (2019-20 and 2020-21), the interest rate was 8.50%.

In 1952, the interest rate on PF was only 3%. However, after that it increased. For the first time in 1972 it reached above 6%. It reached above 10% for the first time in 1984. The best time for PF holders was from 1989 to 1999. During this, 12% interest was available on PF. After that the interest rate started falling.

The interest rate never reached close to 10% after 1999. It has remained below 9.50% since 2001. It has been 8.50% or less for the last seven years.