EPFO credits 8.50% interest in 18.34 crore account holders for FY21

Employees’ Provident Fund Organisation (EPFO) has credited an interest rate of 8.50 per cent in 18.34 crore account holders for the financial year (FY) 2020-21, the retirement fund body announced today on its official Twitter handle @EPFO. 

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"18.34 crore accounts have been credited with an interest of 8.50% for the FY 2020-21. @LabourMinistry @esichq @PIB_India @byadavbjp @Rameswar_Teli," the tweet said.  

See Tweet Here: 

18.34 crore accounts have been credited with an interest of 8.50% for the FY 2020-21. @LabourMinistry @esichq @PIB_India @byadavbjp @Rameswar_Teli

— EPFO (@socialepfo) November 22, 2021

EPFO is one of the world's largest social security organisations in terms of clientele and the volume of financial transactions undertaken.  

The Employees' Provident Fund came into existence with the promulgation of the Employees' Provident Funds Ordinance on the 15th November, 1951. It was replaced by the Employees' Provident Funds Act, 1952. 

The Central Board of Trustees administers a contributory provident fund, pension scheme and an insurance scheme for the workforce engaged in the organized sector in India. The Board is assisted by the Employees’ PF Organization (EPFO), consisting of offices at 135 locations across the country.