EPFO fixes interest rate at 8.55%

• EPFO (Employee's Provided Fund Organization) has reduced intrest rate to 8.55% for 2017-18 which is lowest in last 5 years.
• It will directly affect 6 crore members/Subscribers Associated with EPF.
• This move is done to generate a surplus INR 58.6 Million compared to last year with was INR 69.5 Million.
• This cut comes after the time when returns on debt is decreased to 6.75% from 7.5% of last year.
• So what government is doing is exploring diffrent ways to somehow accumulate fund.
• Current government targeted saving of all middle to low income citizens to accumulate fund and maybe some projects for well-being of common people.
• Overall, Rich keeps on accumulating.
  
  Source

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