Summary:
Ravi S SinghTribune News ServiceNew Delhi March 4The Central Board of Trustees EPF in its meeting on Thursday recommended 8.5 per cent annual rate of interest to be credited on the EPF accumulations in members' accounts for the financial year 2020-21. The Ministry said the EPFO over the years had been able to distribute higher income to its members through various economic cycles with minimal credit risk. The investment in equity assets started from 5 per cent for FY 2015 and subsequently gone up to 15 per cent of the incremental portfolio. For FY 2021 the EPFO decided to liquidate investment and the interest rate recommended is a result of combined income from interest received from debt investment as well as income realised from equity investment. This has enabled the EPFO to provide higher return to its subscribers and still allowing the EPFO with healthy surplus to act as cushion for providing higher return in future also..