EPFO to pay 8.5% interest rate for FY20 in 2 installments

The Employees' Provident Fund Organisation (EPFO) will pay 8.50 percent interest rate to the formal sector employees for the last fiscal year in a staggered manner due to the impact of the coronavirus pandemic.
The total payment would include an 8.15 percent interest rate from debt income and the balance 0.35 percent from the sale of ETFs subject to their redemption by December 31, 2020, said an official statement.