The Central Board of Trustees (CBT) has the PF interest rate for 2016-17 fixed at 8.65%. The decision was taken by the CBT and headed by the Labor Minister to reduce the interest rate by 0.15%.
Approximately 17 crore subscribers’ accounts will be updated with the new interest rate, once this is accepted by the government.
The representatives of the trade unions wanted the old rate of 8.8% to continue but stating the fact that it would not be feasible for the EPFO, the cut in the percent was announced.
PF interest rate for 2016-17 fixed at 8.65%
