Govt ratifies 8.65 pc rate of interest on EPF for FY17

New Delhi: The government has ratified 8.65 per cent rate of interest on EPF deposits for 2016-17. The Employees Provident Fund Organisation (EPFO) has asked its field formation to credit 8.65 per cent rate of interest into the accounts of subscribers after the Labour Ministry informed the body about approval in this regard by the Central Government, a senior official said. In another good news for over four crore members of the EPFO, they can now withdraw funds from their EPF account for treatment of illness and purchasing equipment to deal with handicap without medical certificates by using a composite form along with a self-declaration. PTI