Citing IL&FS, govt seeks rethink of EPF rate hike
5 years, 6 months ago

Citing IL&FS, govt seeks rethink of EPF rate hike

Hindustan Times  

The Union finance ministry has asked the labour ministry to review the 8.65% rate of interest proposed on the employees’ provident fund deposits for the 2018-19 fiscal, according to two officials aware of the development who said the suggestion could lead to a 0.5-1 percentage point cut when the rate is finally notified. Ministry of Labour and Employment is therefore advised to consider a rate of interest for FY 2018-19 which does not fully utilise the surplus of the previous year and leaves a reasonably higher surplus in the account undistributed,” said the finance ministry’s letter, accessed by HT, sent to labour secretary Heeralal Samariya on June 7. “When the board is the apex decision-making body and when EPFO does not take any money or grant from the government, the intervention of the finance ministry in the matter of workers’ own, hard-earned money is unnecessary and unwarranted,” said member Ashok Singh, who is the vice president of the Indian National Trade Union Congress. “The reason behind the finance ministry’s objection to 8.65% interest rate is neither bad investment in IL&FS nor giving a share to subscribers from their own accumulated surplus.

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History of this topic

EPFO key amendments: Now faster claims and more interest benefits for members
1 month ago

EPFO key amendments: Now faster claims and more interest benefits for members

India Today  

The Employees Provident Fund Organisation has introduced major changes to provide financial relief and faster claim settlement for Employees Provident Fund members. KEY UPDATE ON INTEREST PAYMENTS EPFO announced that the Central Board of Trustees has approved an important amendment to paragraph 60 of the EPF Scheme, 1952. BENEFITS FOR EPF MEMBERS Speaking to The Economic Times, Puneet Gupta, Tax …

EPFO board pitches amnesty plan for PF payment violations
1 month, 2 weeks ago

EPFO board pitches amnesty plan for PF payment violations

Hindustan Times  

In a key decision, the central board of trustees of the Employees’ Provident Fund Organisation, in its 236th meeting chaired by labour minister Mansukh Mandaviya on Saturday, approved reinvesting 50% of its redemption proceeds from exchange traded funds back into equities. The board also recommended to the Union government a national EPFO amnesty scheme 2024 for all types of employers …

EPF interest hiked to 3-year high of 8.25%
11 months ago

EPF interest hiked to 3-year high of 8.25%

Deccan Chronicle  

New Delhi: Ahead of general elections, the interest rate paid on employee provident fund was on Saturday hiked to 8.25 per cent for fiscal year ending March 31, the highest in three years.The central board of trustees of the Employees' Provident Fund Organisation recommended to the finance ministry for raising the interest rate for nearly 8 crore contributing subscribers, the …

EPFO hikes interest rate to 8.25 per cent on employees' provident fund, highest in three years
11 months ago

EPFO hikes interest rate to 8.25 per cent on employees' provident fund, highest in three years

India TV News  

Retirement fund body Employees' Provident Fund Organisation has hiked the interest rate on deposits to 8.25 per cent from 8.15 per cent. In March 2023, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.15 per cent for 2022-23 from 8.10 per cent in 2021-22. The 8.5 per cent interest rate on EPF deposits for …

Centre ratifies 8.15% interest rate on EPF for 2022-23
1 year, 5 months ago

Centre ratifies 8.15% interest rate on EPF for 2022-23

Deccan Chronicle  

New Delhi: The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As …

Govt hikes interest rate on Employees Provident Fund for 2022-23 to 8.15%
1 year, 5 months ago

Govt hikes interest rate on Employees Provident Fund for 2022-23 to 8.15%

Hindustan Times  

The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As per an …

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here
1 year, 5 months ago

EPF Update: Govt Approves 8.15% Interest Rate for Fiscal 2023-24; Details Here

News 18  

The central government has approved to credit interest at 8.15 per cent to the Employees’ Provident Fund scheme for 2023-24. The EPFO’s Central Board of Trustees on March 28 set an 8.15 per cent interest rate on provident fund for this fiscal. According to an Employees’ Provident Fund Organisation office order issued on Monday, July 24, the labour ministry has …

EPFO fixes 8.15% interest rate on employees' provident fund for fiscal 2022-23
1 year, 9 months ago

EPFO fixes 8.15% interest rate on employees' provident fund for fiscal 2022-23

India TV News  

Employees' Provident Fund Organisation on Tuesday fixed an 8.15% rate of interest on employees’ provident fund deposits for the fiscal year 2022-23. According to reports, this was the lowest since 1977-78, when the EPF interest rate stood at 8% "The Employees’ Provident Fund Organisation’s apex decision-making body Central Board of Trustees has decided to provide an 8.15% rate of interest …

EPFO fixes 8.15% interest rate on employees' provident fund for 2022-23
1 year, 9 months ago

EPFO fixes 8.15% interest rate on employees' provident fund for 2022-23

India Today  

The retirement body fund Employees Provident Fund Organisation on Monday fixed the employees’ provident fund for 2022-23 at 8.15 per cent, reported news agency PTI quoting sources. The fresh rate is 0.5 per cent higher than the 8.1 per cent interest rate EPFO had declared for 2021-22, which also was the lowest in almost four decades. “The Employees’ Provident Fund …

EPFO Fixes 8.15% Interest Rate On EPF For 2022-23
1 year, 9 months ago

EPFO Fixes 8.15% Interest Rate On EPF For 2022-23

News 18  

The Employees’ Provident Fund Organisation has fixed 8.15% interest rate on Employees’ Provident Fund for the financial year 2022-23. “The Employees’ Provident Fund Organisation’s apex decision making body Central Board of Trustees has decided to provide 8.15 per cent rate of interest on EPF for 2022-23 at its meeting on Tuesday,” news agency PTI quoted a source as saying. The …

EPFO marginally hikes interest rate on deposits to 8.15 %
1 year, 9 months ago

EPFO marginally hikes interest rate on deposits to 8.15 %

The Hindu  

After a two-day meeting of the Central Board of Trustees of the Employees’ Provident Fund Organisation, which ended here on Tuesday, it was decided to recommend an increase of 0.05% in the interest for Provident Fund deposits. A government release said the interest rate would be officially notified in the government gazette after the approval of the Ministry of Finance, …

EPFO likely to decide rate of interest on employees’ provident fund deposits for FY23 by March 28
1 year, 9 months ago

EPFO likely to decide rate of interest on employees’ provident fund deposits for FY23 by March 28

The Hindu  

The retirement fund body EPFO is likely to announce the rate of interest on employees' provident fund deposits for 2022-23 at its two-day meeting beginning Monday. "The Employees' Provident Fund Organisation's apex decision-making body Central Board of Trustees is likely to decide the rate of interest on EPF for 2022-23 at its two-day meeting beginning on Monday afternoon," a source …

EPF Interest Rate Likely To Be Revised Down To 8%, EPFO Board Meet May Decide Today
1 year, 9 months ago

EPF Interest Rate Likely To Be Revised Down To 8%, EPFO Board Meet May Decide Today

News 18  

The interest rate on the employees’ provident fund is likely to be revised, even as the retirement fund body EPFO’s board meets on Monday. According to an ET report recently, the government might peg the interest rate on PF deposits at about 8 per cent for the financial year 2022-23, as compared with 8.1 per cent currently. For 2021-22, the …

EPF Interest 2021-22, Trustees Flag Non-Credit Issue; Check Latest Update
1 year, 10 months ago

EPF Interest 2021-22, Trustees Flag Non-Credit Issue; Check Latest Update

News 18  

Retirement fund body EPFO’s trustees, including those representing employers as well as workers, have raised the issue of non-credit of interest on employees’ provident fund for 2021-22 even after its ratification in June last year. The Employees Provident Organisation’s Central Board of Trustees, headed by Union Labour Minister Bhupender Yadav, in March 2022 approved an 8.1 per cent rate of …

EPFO subscribers expected to receive entire PF interest amount after Diwali: Reports
2 years, 2 months ago

EPFO subscribers expected to receive entire PF interest amount after Diwali: Reports

Firstpost  

The finance ministry said earlier this month that the interest amount is being credited into subscribers’ accounts and if it wasn’t apparent in the account statements, it was because the EPFO software is being upgraded Good news for EPFO subscribers! The interest is expected to be credited into subscribers’ accounts by the end of this month, according to media reports. …

EPF still top scorer despite cut in interest rate to 40-year low - 5 Reasons
2 years, 7 months ago

EPF still top scorer despite cut in interest rate to 40-year low - 5 Reasons

India TV News  

EPF Interest Rate 2021-22, EPF Interest Rate Cut: The Employees’ Provident Fund Organisation, responsible for regulation and management of provident funds in the country, has cut the interest rate on EPF to a 40-year-low of 8.1 per cent for the financial year 2021-22, causing more pain to the salaried class at a time when inflation is at an 8-year-high. A …

Govt Approves 8.1 Per Cent Interest Rate On EPF Deposits For 2021-22, Lowest In Four Decades
2 years, 7 months ago

Govt Approves 8.1 Per Cent Interest Rate On EPF Deposits For 2021-22, Lowest In Four Decades

ABP News  

New Delhi: The central government has approved 8.1 per cent rate of interest on employees' provident fund deposits for 2021-22, an over four-decade low, for about five crore subscribers of retirement fund body EPFO, reported by the PTI. Earlier in March this year, the Employees' Provident Fund Organisation had decided to lower the interest on provident fund deposits for 2021-22 …

Centre approves 8.1% interest rate on employees' provident fund deposit for 2021-22
2 years, 7 months ago

Centre approves 8.1% interest rate on employees' provident fund deposit for 2021-22

Firstpost  

The 8.1 per cent EPF rate of interest is the lowest since 1977-78, when it stood at 8 per cent New Delhi: The government has approved 8.1 per cent rate of interest on employees’ provident fund deposits for 2021-22 – an over four-decade low – for about five crore subscribers of retirement fund body EPFO. Earlier in March this year, …

EPF Interest Rate: PF Members to Get 8.1% Interest for 2021-22; Lowest Since 1977-78
2 years, 7 months ago

EPF Interest Rate: PF Members to Get 8.1% Interest for 2021-22; Lowest Since 1977-78

News 18  

The government has approved a four-decade-low interest rate of 8.1 per cent on employee provident fund deposits for 2021-22, according to news agency PTI quoting an EPFO office order. The retirement fund body had in March decided to pay an 8.1 per cent rate of interest on the provident fund deposits for the financial year 2021-22, against 8.5 per cent …

PPF vs EPF vs FD: Check latest interest rates
2 years, 9 months ago

PPF vs EPF vs FD: Check latest interest rates

India Today  

Employees Provident Fund, fixed deposit and Public Provident Fund are popular among investors who prefer low-risk investment and a decent dividend. PPF INTEREST RATE The PPF interest rate for the first quarter of the new financial year remains at 7.1 per cent. EPF INTEREST RATE Recently, the EPF or Provident Fund interest rate was reduced to a four-decade low of …

Lowest EPF Rate In 43 Years, But Govt Says Returns Getting Higher Than Retail Inflation Rate
2 years, 9 months ago

Lowest EPF Rate In 43 Years, But Govt Says Returns Getting Higher Than Retail Inflation Rate

ABP News  

EPF Rate Cut: For 2021-22, the Central Board of Trustees has decided to reduce the EPF rate to 8.1 percent, which is the lowest EPF rate in 43 years. Defending the EPF rate cut, Finance Minister Nirmala Sitharaman said in the Rajya Sabha that the rate was dictated by today's realities where interest rate on other small saving instruments was …

EPFO interest rate better than other schemes, reflects today's realities, says Nirmala Sitharaman
2 years, 9 months ago

EPFO interest rate better than other schemes, reflects today's realities, says Nirmala Sitharaman

Firstpost  

She said the decision to lower interest rate was taken by the central board of the provident fund managing body, EPFO, which has representatives of all stakeholders including employees’ unions New Delhi: Finance Minister Nirmala Sitharaman on Monday defended a proposal to cut interest rate paid on employees’ provident fund deposits to over four-decade low of 8.1 per cent, saying …

DMK, Trinamool members oppose interest rate cut on EPF deposits
2 years, 10 months ago

DMK, Trinamool members oppose interest rate cut on EPF deposits

The Hindu  

DMK member T. R. Baalu on March 14 slammed the government for lowering the interest rate on Employees' Provident Fund deposits to 8.1%. Raising the issue during Zero Hour, Mr. Baalu also demanded that the Centre restore the interest rate on EPF deposits to 8.5% and fix the minimum pension under the employee pension scheme at ₹3,000 per month. Trinamool …

EPF interest rate: When will subscribers receive payment?
2 years, 10 months ago

EPF interest rate: When will subscribers receive payment?

India Today  

Employees' provident fund interest rate was cut to a four-decade low of 8.1 per cent for the 2021-22 fiscal. EPF INTEREST RATE The EPFO paid 8.5 per cent interest rate to its subscribers in 2020-21, the same as in the previous year. EPF INTEREST TO SUBSCRIBERS The 8.1 per cent interest rate was recommended by the Central Board of Trustees …

'Return gift': Congress' jibe at BJP after EPFO cuts interest rate to 8.1%, lowest in 4 decades
2 years, 10 months ago

'Return gift': Congress' jibe at BJP after EPFO cuts interest rate to 8.1%, lowest in 4 decades

Hindustan Times  

The latest reduction in Employees' Provident Fund Organisation's interest rate is a "return gift" by the Bharatiya Janata Party to people after it secured a record win in the recently concluded assembly elections in five states, Congress general secretary and chief spokesperson Randeep Surjewala said on Saturday. "The EPFO has reduced the interest rate on PF deposits to the lowest …

EPF rate slashed from 8.5% to 8.1% for 2021-22, to hit savings
2 years, 10 months ago

EPF rate slashed from 8.5% to 8.1% for 2021-22, to hit savings

The Hindu  

The return on workers’ retirement savings parked with the Employees’ Provident Fund Organisation has been slashed to 8.1% for 2021-22 from the 8.5% rate credited to EPF members’ accounts in the last two years. The EPFO’s income from investments this year stood at ₹76,768 crore from about ₹70,000 crore in 2020-21, when it had paid out 8.5% to EPF accounts. …

Retirement fund body EPFO sets interest rate at over four-decade low of 8.1% for 2021-22
2 years, 10 months ago

Retirement fund body EPFO sets interest rate at over four-decade low of 8.1% for 2021-22

India Today  

The retirement fund body EPFO has set the interest rate on provident fund deposits for 2021-22 at 8.1 per cent, which is the lowest it has been in more than four decades. "The Employees' Provident Fund Organisation's apex decision-making body Central Board of Trustees has decided to provide 8.1 per cent rate of interest on Employees Provident Fund for 2021-22 …

Middle-class savings to dip as EPFO cuts interest rate to 8.1% for 2021-22
2 years, 10 months ago

Middle-class savings to dip as EPFO cuts interest rate to 8.1% for 2021-22

Hindustan Times  

The Employees’ Provident Fund Organisation, the state-run retirement fund manager and a popular savings scheme for millions of salaried middle-class Indians, on Saturday decided on an 8.1% interest on provident fund deposits for 2021-22, a downward revision. In the previous year, the fund manager kept the interest rate on savings steady at 8.5% but Saturday’s downward revision is lowest in …

EPFO fixes 8.1% as interest rate, a over four-decade low, on EPF deposits for 2021-22
2 years, 10 months ago

EPFO fixes 8.1% as interest rate, a over four-decade low, on EPF deposits for 2021-22

Firstpost  

This is the lowest since 1977-78, when the EPF interest rate stood at 8 per cent. New Delhi: The interest rate on employees’ provident fund deposits on Saturday was proposed to be cut to a four-decade low of 8.1 per cent for the current 2021-22 fiscal from 8.5 per cent in the previous year, sources said. The EPFO paid 8.5 …

Employees' Provident Fund interest rate slashed from 8.5% to 8.1%
2 years, 10 months ago

Employees' Provident Fund interest rate slashed from 8.5% to 8.1%

Hindustan Times  

Retirement fund body EPFO on Saturday decided to lower the interest on provident fund deposits for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent provided in 2020-21, sources said. The Employees' Provident Fund Organisation office This is the lowest since 1977-78, when the EPF interest rate stood at …

EPF Interest Rate 2021-22: PF Members to Get 8.1% Interest, Lowest in Decades; Know More
2 years, 10 months ago

EPF Interest Rate 2021-22: PF Members to Get 8.1% Interest, Lowest in Decades; Know More

News 18  

EPF interest rate 2021-22: The Employees’ Provident Fund Organisation on Saturday decided to pay 8.1 per cent rate of interest on provident fund deposits for the current financial year 2021-22, sources told CNBC-TV18. The rationale behind this recommendation is we want to strike a balance between the safety of EPF corpus with high returns and we will look for well …

EPFO to take call on interest rate for 2021-22 in March
2 years, 11 months ago

EPFO to take call on interest rate for 2021-22 in March

India TV News  

EPFO's apex decision-making body Central Board of Trustee will take a call on interest rate on employees' provident fund deposits for 2021-22 in its meeting next month. Asked whether EPFO would maintain the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Yadav, who also heads the CBT, said the decision would be taken on the basis of …

EPFO board allows faster decisions on investment opportunities
3 years, 1 month ago

EPFO board allows faster decisions on investment opportunities

The Hindu  

The Employees’ Provident Fund Organisation’s Central Board of Trustees on Saturday approved a proposal that would speed up decisions on investment opportunities, according to EPFO officials. The CBT, at a meeting chaired by Labour and Employment Minister Bhupender Yadav, “decided to empower the Finance Investment and Audit Committee to decide upon the investment options, on case-to-case basis, for investment in …

Govt. approves 8.5% interest rate on Employees' Provident Fund for FY21
3 years, 2 months ago

Govt. approves 8.5% interest rate on Employees' Provident Fund for FY21

The Hindu  

The government has approved 8.5% rate of interest on employees' provident fund for the 2020-21 fiscal, a source said. Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation. The 8.5% rate of interest on provident fund deposits for the last financial year was decided by the EPFO's apex decision …

EPF interest to be credited soon as govt gives nod: Report
3 years, 2 months ago

EPF interest to be credited soon as govt gives nod: Report

Live Mint  

The Finance Ministry on Friday approved 8.5% rate of interest of provident fund deposit for 2020-21 paving way for the Employees' Provident Fund Organisation to credit the interest, reported news agency PTI citing sources. The retirement fund regulatory body kept the EPF interest rate unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year. …

EPFO fixes interest rate on EPF deposits at 8.5% for 2020-21: Sources
3 years, 10 months ago

EPFO fixes interest rate on EPF deposits at 8.5% for 2020-21: Sources

India Today  

The Employees’ Provident Fund Organisation has fixed the rate of interest on provident fund deposits at 8.5 per cent for the financial year 2020-21, sources in the government have said. The decision to fix the EPFO interest rate at 8.5 per cent was taken in the backdrop of an economic slowdown due to coronavirus pandemic that forced the Indian economy …

EPFO Keeps Interest Rate Unchanged at 8.5% for FY-21 on Provident Fund Deposits
3 years, 10 months ago

EPFO Keeps Interest Rate Unchanged at 8.5% for FY-21 on Provident Fund Deposits

News 18  

The Employees’ Provident Fund Organisation has maintained 8.5 per cent interest for 2020-21, the same rate fixed for the last fiscal 2019-20. Last year, in March, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 percent for 2019-20, from 8.65 percent in 2018-19. Budget 2021 has proposed to restrict tax exemption for interest …

EPFO likely to announce interest rates on provident fund deposits for FY 2020-21 today
3 years, 10 months ago

EPFO likely to announce interest rates on provident fund deposits for FY 2020-21 today

Firstpost  

The Employees Provident Fund Organisation is expected to announce the interest rates on provident fund deposits for the financial year 2020-21 on Thursday. The central board of trustees will meet in Srinagar and reports say the EPFO could lower the rates for FY 20-21 following the economic downturn throughout the last year due to novel coronavirus. In March 2020, the …

EPFO Likely to Announce Interest Rates for 2020-21 Tomorrow
3 years, 10 months ago

EPFO Likely to Announce Interest Rates for 2020-21 Tomorrow

News 18  

Employees’ Provident Fund Organisation will likely announce the interest rates on Provident Fund deposits for the financial year 2020-21 on March 4, following the Central Board of Trustees meeting in Srinagar. The retirement body had said that the 8.5 percent interest would be paid in two installments – 8.15 percent from debt investments and 0.35 percent from equity. Finance Minister …

EPFO’s interest rate declaration shines light on a fundamental problem
4 years, 4 months ago

EPFO’s interest rate declaration shines light on a fundamental problem

Live Mint  

Reeling under pressure from huge withdrawals, declining interest rate and underperformance of its equity portfolio, the Employees’ Provident Fund Organization split the interest rate payment of 8.5% for FY20. On 9 September, EPFO decided to first credit only 8.15% interest for FY20 into the subscribers’ accounts and the remainder 0.35% rate of interest by December, subject to redemption of the …

EPFO for 8.15% interest first, 0.35% by December
4 years, 4 months ago

EPFO for 8.15% interest first, 0.35% by December

The Hindu  

Due to the coronavirus pandemic, the Employees Provident Fund Organisation on Wednesday decided to credit a lower interest rate of 8.15% for 2019-2020, with the credit of the remaining 0.35% being subject to the sale of exchange-traded funds by December 31. The EPFO Central Board of Trustees decided to credit the interest of 8.5% decided earlier this year in two …

EPFO to pay 8.5% interest for FY20 in two instalments, cites COVID's impact on income
4 years, 4 months ago

EPFO to pay 8.5% interest for FY20 in two instalments, cites COVID's impact on income

Firstpost  

An instalment of 8.15% will be paid for now, and the remaining 0.35% will be credited by December New Delhi: Retirement fund body EPFO on Wednesday decided to provide 8.5 per cent rate of interest on employees’ provident fund for 2019-20 as committed earlier. In March this year, Employees’ Provident Fund Organisation’s apex decision making body Central Board of Trustees …

EPFO Decides to Credit Part of 8.5% Interest for FY20 to 6 Crore Subscribers: Report
4 years, 4 months ago

EPFO Decides to Credit Part of 8.5% Interest for FY20 to 6 Crore Subscribers: Report

News 18  

Retirement fund body EPFO on Wednesday decided to credit a part of 8.5 per interest on employees provident fund for 2019-20 into the account of its around 6 crore subscribers. The decision to provide 8.15 per cent interest on EPF has been taken at the Employees' Provident Fund Organisation's trustees meet held on Wednesday, a source said. The EPFO's apex …

EPFO Trustees to Flag Delay in Ratification of EPF Interest Rate for FY20
4 years, 4 months ago

EPFO Trustees to Flag Delay in Ratification of EPF Interest Rate for FY20

News 18  

The issue of delay in ratification of 8.5 per cent rate of interest for employees provident fund for 2019-20 is likely to be raised in the meeting of retirement fund body EPFO scheduled on Wednesday. The Employees' Provident Fund Organisation's apex decision making body Central Board of Trustees, headed by Labour Minister Santosh Gangwar, had on March 5 this year …

Employees’ Provident Fund (EPF): 3 reasons why you might earn less returns this year
4 years, 7 months ago

Employees’ Provident Fund (EPF): 3 reasons why you might earn less returns this year

Live Mint  

If you are depending on your employees' provident fund account for retirement needs, earnings from this financial year is likely to disappoint you. Despite falling interest rates in fixed deposits and small saving schemes, the Employees' Provident Fund Organisation had declared an interest rate of 8.5% for 2019-20. Since there will be less contribution for 3 months, the monthly balance …

CONFIRM! EPF interest rate hiked to 8.65 per cent; Rs 54,000 crore to be credited into 6 crore accounts
5 years, 3 months ago

CONFIRM! EPF interest rate hiked to 8.65 per cent; Rs 54,000 crore to be credited into 6 crore accounts

India TV News  

Government of India has finally made it official that crores of beneficiaries of Employees' Provident Fund would get an increase in the interest rate for their provident fund money. Union Labour Minister Santosh Gangwar announced the decision on Tuesday which said EPFO would now provide a 8.65 per cent interest rate on employees provident fund for 2018-19. "It gives me …

For EPF withdrawals, now new interest rate will be applicable
5 years, 3 months ago

For EPF withdrawals, now new interest rate will be applicable

Live Mint  

The government has approved 8.65% interest rate on employees provident fund or EPF for 2018-19, which will now soon be credited into the accounts of over 6 crore subscribers of retirement fund body EPFO, Press Trust of India reported, citing sources. In February this year, the Central Board of Trustees - the top decision-making body of EPFO - had approved …

Good news: Govt approves 8.65% interest rate; over 6 crore EPFO members set to benefit
5 years, 3 months ago

Good news: Govt approves 8.65% interest rate; over 6 crore EPFO members set to benefit

India TV News  

The government on Thursday approved 8.65 per cent interest rate on employees provident fund for 2018-19, news agency PTI quoted sources as saying. The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation -- had approved 8.65 per cent interest rate for the last fiscal on February 21 this year. Earlier this week, Labour …

Over 6 cr EPFO members to get 8.65% interest for 2018-19 ahead of festival season: Labour minister Santosh Gangwar
5 years, 3 months ago

Over 6 cr EPFO members to get 8.65% interest for 2018-19 ahead of festival season: Labour minister Santosh Gangwar

Firstpost  

Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO members will get 8.65 percent interest on their deposits for 2018-19 New Delhi: Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO accounts will be credited with interest amount at 8.65 percent rate for 2018-19 ahead of the festival season. Once approved by the finance ministry, the …

Labour Minister Santosh Kumar Gangwar says 8.65% interest on Employees' Provident Fund to be notified soon
5 years, 4 months ago

Labour Minister Santosh Kumar Gangwar says 8.65% interest on Employees' Provident Fund to be notified soon

Firstpost  

New Delhi: The labour ministry will soon notify 8.65 percent rate of interest on Employees’ Provident Fund for 2018-19 as the finance ministry does not disagree on this rate, said Labour Minister Santosh Gangwar on Friday. “Assurance from senior ministers to resolve issues related with GST, Code on Wages, Credit Access for smaller companies and enabling rather than enforcing compliance …

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