Proposal to reduce interest rate of EPF
GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
RAJYA SABHA
QUESTION NO 108
ANSWERED ON 16.11.2016
Proposal to reduce interest rate of EPF
108 Shri Ripun Bora
Will the Minister of LABOUR AND EMPLOYMENT be pleased to satate :-
(a) whether it is a fact that Government proposes to reduce the interest rate of EPF from 2016-17 financial year;
(b) if so, whether Government has made any survey on the impact of lowering interests in EPF therefor; and
(c) the comparative study report with other small saving schemes thereof?
ANSWER
MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)
(a): At present, there is no such proposal.
(b): Does not arise in view of reply to part (a) of the Question above.
(c): The interest rate of similar saving schemes during the last three years is as under:
| Year | General Provident Fund (GPF) | Public Provident Fund (PPF) | Employees’ Provident Fund (EPF) |
| 2015-16 | 8.7% | 8.7% | 8.8% |
| 2014-15 | 8.7% | 8.7% | 8.75% |
| 2013-14 | 8.7% | 8.7% | 8.75% |
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