The central government on Friday approved 8.1 per cent rate of interest on employee provident fund (EPF) deposits for 2021-22, according to an EPFO office order. The Employees’ Provident Fund Organisation (EPFO) had in March proposed to cut the interest rate on provident fund deposits from 8.5 per cent to 8.1 per cent for 2021-22. This is the lowest interest rate on deposits in the past four decades, and is set to impact 60 million subscribers.

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