In a move this is good for most salaried people of India, the interest rate on Provident Fund accounts has been increased for the year 2012-2013.
Please read on for more details.
Provident Fund (PF) Interest Rate for 2012-2013
The Employees Provident Fund Organization (EPFO) has announced that the rate of interest for PF account for the year 2012-2013 would be 8.5% per year.
This has been increased from the 8.25% rate which was applicable for 2011-2012. However, it is still much lower than the 9.5% interest paid in 2010-2011.
The rate was expected to be increased to 8.75%, but it was kept at 8.5% to avoid any deficit for the EPFO.
PF Interest Rate History
In the recent past, the PF interest rate has peaked at 12%! This fabulous rate was applicable in the 1990s.
Here is a graph that shows the historical PF interest rates.
Provident Fund (PF) Interest Rate History
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