EPFO lowering interest rates is not good

EPFO slashes interest rates to 8.1%, lowest in over 40 years. Over 6 cr EPF account holders will feel the pinch. Similarly:
Interest on FD ⬇️
Interest on PPF⬇️
Interest on Post office savings⬇️
Interest on Senior citizens savings⬇️
Interest on NSC⬇️
No relief for small savers. more  

View all 7 comments Below 7 comments
Central Govment ( BJP ) very very lier Central Govment ( BJP ) not lika poir peoples this Govment like rech people more  
This is big hit to workers and low level employees who save little little through PF ,but Govt. Fatch their minimum eligibility interest money. Govt. Should consider to increase interest of this type of schemes more  
One more common man hostile act of centre more  
Central Govment no relief poor mens for small savings Central Govment alwayes help rich mens more  
People who are contributing to PF are not poor as per government. Even interest rate of welfare scheme SCSS 2004 started by congress govt to provide a regular income stream to retirees from pvt sector who do not get pension has been reduced to 7.4% from 9.3%. This step has made life miserable for crores of senior citizens. Govt had announced further reduction to 6.5% but the order was withdrawn next day due to election in West Bengal. SCSS2004 was started at interest rate of 9% and it was increased to 9.3% in April 2015 after 11 years in view of rising prices. The interest income is taxable and a maximum amount of Rs.15 lakhs is allowed to be deposited in the scheme. The interest is payable quarterly. more  
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