Employees' Provident Fund (EPF): 3 reasons why you might earn less returns this year
Several rules related to EPF withdrawal and deposits have been changed during the coronavirus pandemic
As interest rates fall, the EPFO might also declare a lower interest rate for PF account holders in FY 2020-21
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.