Day: June 5, 2018

EPF Interest To Be Credited Soon: Here’s What You May Not Know About It

EPF Interest To Be Credited Soon: Here’s What You May Not Know About It

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The interest of 8.55 percent accrued on Employee's Provident Fund (EPF) for the fiscal 2017-18 will be credited soon. The interest rate recently notified by the government is lowest since 2012-13 fiscal. EPF is a mandatory contribution that every company, which has more than 20 employees, has to deduct from the salary of its employees. An employee contributes 12 per cent of his salary towards the EPF kitty, while an employer pays another 12 per cent, out of which 8.33 per cent is invested in the Employee's Pension Scheme (EPS) while the balance 3.67 per cent is invested in EPF. Both EPS and EPF are run by the Employees' Provident Fund Organisation (EPFO). Here are 10 things you may not know about EPF contributions, EPF interest rate, EPF balance: 1) Interest on EPF keeps getting ac