Current Affairs - Economy - Discussion

Employees' Provident Fund Organisation (EPFO) asked its field offices to credit 8.55% rate of interest for 2017-18 into the Provident Fund accounts of around 5 crore subscribers. According to an order issued by the EPFO, the Labour Ministry conveyed approval to credit 8.55% rate of interest for last fiscal. The finance ministry had ratified 8.55%rate of interest on EPF for the last fiscal, but it could not be implemented because of model code of conduct for Karnataka elections.