The Employees’ Provident Fund stands as a crucial retirement savings scheme facilitated by the Central government, catering to both salaried employees and private sector workers. Declared EPF interest rate The annual EPF interest rate is announced by the Employees’ Provident Fund Organisation. For the financial year 2023-24, the EPF interest rate stands at 8.25%. Calculation method EPF interest is compounded …
Even as the last date to file joint options to claim higher Provident Fund pension ends on May 3, the Centre has decided to wait for the total number of applicants before releasing the procedures to calculate the pension and the share of employees. The amendments to the Employees’ Pension Scheme of 1995 to decide the future of the Centre’s …
Highlights The cess calculation was earlier done as per construction cost in 2006 Now, the labour cess will be hiked as it is being calculated as per the latest construction cost The labour cess is collected by the government as one percent of cost of construction projects Real estate developers and construction agencies in Delhi will now have to pay …
