EPFO update: The coming week is likely to bring good news for employees, as their Provident Fund interest rate is set to be hiked! Zee Business Online has come to know through EPFO ​​sources that provident fund would get an interest rate of 8.65 percent for the financial year 2018-19 - Centre may notify the 8.65 percent interest rate as early as next week. The ongoing tussle between the Ministry of Labour and the Finance Ministry over the interest rate is now over and bar the announcement, everything else has been decided. The EPFO interest rates will be notified by the next week and it will extend the direct benefit to 4.6 crore EPF account holders.

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According to sources, the ministries of Finance and Labour had a long-running tussle over the interest rate on the Provident Fund. However, Labour Minister Santosh Kumar Gangwar and Finance Minister Nirmala Sitharaman recently held a meeting and agreed to pay more interest on PF, say sources. The notification in this regard will be released by next week. After that notification, interest will be credited in the accounts of all the provident fund account holders.

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(Original story was filed by Shubham Shukla from Zee Business Hindi)