Finance Minister defends PF rate cut. Says it is better than other schemes: Finance Minister Nirmala Sitharaman stated on Monday that the proposed 8.1 per cent interest rate on employees' provident funds is better than the interest rates offered by other small savings schemes and that the revision is influenced by current realities.
The EPFO's central board decides on the interest rate on provident fund deposits, and it is the board that has proposed cutting the PF rate to 8.1 per cent for FY2021-22, she said in her reply to a Rajya Sabha debate on Appropriat Read More
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