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Government raises EPF Interest rates for 2010-11

employee provident fund, epf interest rates 2011-12Ministry of Labour and Employment has fixed the rate of interest of Employment Provident Fund for the year 2010-11 at the rate of 9.5% per annum.

The present rate of interest for EPF deposits is 8.5% per annum.  This has been raised now to 9.5% per annum.

This decision has been taken by Government under Para 60(1) of the Employees' Provident Funds Scheme, 1952, and this would benefit 4.72 crore EPF Accounts throughout India.

When EPF interest rates were proposed to increased to 9.5% this year, there were expectation that General provident interest rates (GPF) will also be increased to 9.5% from the present 8%.  However, some of the gconnect members feel that both of these two schemes are different and it is not necessary that interest rates of both of these schemes should be kept same.

Read this GConnect Discussion Board page for more details

Download this order No: R-11018/1/2010.SS-II dated 17.03.2011