The center is ready to deliver good news to PF holders. Minister of the department Santosh Agarwal said the interest on PF deposits would be increased to 8.65%. He said, a notification would be released soon. The government’s decision will benefit 6 crore PF clients. The minister was speaking at a meeting of private security guards in Delhi on Friday.
The Financial Services Department (DFS) has announced its willingness to offer 8.65 per cent interest on PF for 2018-19. This comes into force when the Income Tax Department and the Department of Labor jointly notify. Interest is deposited in the employees’ PF account immediately after the announcement. The interest rate on the PF is currently 8.55 per cent and the interest rate would be 8.65 per cent.