EPFO interest rate better than other schemes, reflects today's realities: FM Nirmala Sitharaman
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Finance Minister Nirmala Sitharaman on Monday asserted that the proposed 8.1% interest rate on employees' provident fund is better than interest rates offered by other small savings schemes, and the revision is dictated by the realties of the current times. The EPFO's central board takes a call on interest rate on provident fund deposits, and it is the board that has proposed cutting PF rate to 8.1 per cent for FY2021-22, she said.