EPFO fixes interest rate at 8.55 %

The Employees’ Provident Fund Organisation, EPFO has declared 8.55% interest rate for 2017-18 for its about 5 crore members, the lowest in five years.The move will affect around 6 crore subscribers and leave EPFO with a surplus of Rs 586 crore against Rs 695 crore in the previous financial year. Cut comes at a time when returns on debt funds have decreased to 6.75% from 7.5-8% last year.

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