Govt approves interest rate on EPF for FY21 at 8.5%

Ministry of Finance has approved the interest rate on employees’ provident fund (EPF) deposits for 2020-21 at 8.5%. The rate has been kept unchanged as for year 2019-20.
EPF is one fixed-income instrument that is completely tax-free under the exempt-exempt-exempt (EEE) regime, along with PPF and the Sukanya Samriddhi Account.
Now the labour ministry will notify the interest rate for it to come into effect.

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