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.