city New Delhi India pandemic Government crisis city New Delhi India

Employees' Provident Fund (EPF): 3 reasons why you might earn less returns this year

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NEW DELHI : If you are depending on your employees' provident fund (EPF) account for retirement needs, earnings from this financial year is likely to disappoint you.

Although the new measures like allowing Covid pandemic withdrawal facility and a cut in EPF contribution will improve liquidity in the hands of PF account holders during the ongoing crisis, yet returns for this financial year will be affected.

Despite falling interest rates in fixed deposits and small saving schemes, the Employees' Provident Fund Organisation (EPFO) had declared an interest rate of 8.5% for 2019-20. 1) Cut in statutory EPF contribution for 3 months The government has announced a reduction in the statutory EPF contribution requirement from 24% of basic salary

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