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  • Category: Miscellaneous

    Epf interest rates have been reduced to a four-decade low, indicating how the country progressing?

    The employee provident fund interests have been reduced to a four-decade low, the pf rates interest will be reduced to 8.1 percent. It demonstrates that the country is only moving in one direction..... comment on this...
  • #753829
    The reduce was 0.4 percent interest as the investment by the EPF in other areas are not fetching and thus had to be reduced. It is not the India economy setback, but the world order has been collapsed since two years to which the reasons are aware to everyone. Indian EPF account is accumulating to good amount in coffers but unfortunately cannot tap the right market to enhance the performance of money and therefore need to decrease the interest rates. Even then when compared to the banks and post office the interest rates offered by the EPF is far better and in that circumstances the employees should feel that they are in comfort zones. But one thing is sure, now the withdrawal would be more citing some reasons or the other as the hard earned money of employees does not want to loose something and hence they would withdraw.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #753832
    Unfortunately, the market is under the depressed conditions not only in our country but it prevalent in other countries. The chief reason for the same was the pandemic phase which we witnessed last year. The industrial production were affected and so was the case in other sectors. There was rather negative growth in almost all the units and this caused erosion of the the value of the money of EPFO. Considering the other money instruments, still it is offering a higher dividend which we cannot get in other savings. Hope that the dividend would improve in the upcoming time when the market would surge in the favourable climate.

  • #753848
    True. PF interest rates are coming down. I remember once they were offering more than 10% interest. But slowly they started decreasing the rates and now it is 8.1%. Before this reduction, it was 8.5%. An employee who was saving here will be getting less money as interest. But the amount is tax-free tat is another benefit to the employee. The bank interest rates were reduced and the present rate of interest is around 6% only. Retired private employees who are depending on the interest they get from their savings are becoming poor day by day.
    In the present conditions, 8.1% is a very good rate when compared to FD interest rates. As mentioned by the other authors, the economy of the whole world, not alone in our country, is in a difficult situation and we all know the reasons and slowly started recovering. Already started and improve further improve in the coming days.

    drrao
    always confident


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