Live
- Nizamabad MP Dharmapuri Arvind and Jagtial MLA Dr. Sanjay Kumar Meet CM Revanth Reddy
- Hyderabad CP CV Anand Issues Stern Warning to Bouncers
- MP Laxman Criticizes Police Conduct, Calls for Support for Victims' Families
- Fire Breaks Out in Kachiguda-Chennai Egmore Express, Passengers Evacuated Safely
- CM Revanth Reddy Condemns Attacks on Film Personalities' Homes, Calls for Strict Action
- Victory Venkatesh and Nandamuri Balakrishna to Set Screens on Fire with Unstoppable Season 4
- Over 71.81 crore Ayushman Bharat Health Account numbers generated: Centre
- In special gesture, Kuwait's Prime Minister sees-off PM Modi at airport after conclusion of historic visit
- Veer crowned PGTI Ranking champion, Shaurya wins emerging player honour
- Sr National Badminton: Unseeded Rounak Chauhan, Adarshini Shri reach singles semis
EPFO offers a hike for the first time in four years, interest rate to be 8.65%
The Employees Provident Fund Organisation EPFO board recommended an increase in interest rate to 865 in the current financial year, compared to last years 855 The announcement was made on Thursday and its a decision that can significantly increase returns for six score subscribers
NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) board recommended an increase in interest rate to 8.65% in the current financial year, compared to last year’s 8.55%. The announcement was made on Thursday and it's a decision that can significantly increase returns for six score subscribers.
At a meeting , all members of Central Board of Trustees of the EPFO agreed to give higher interest to subscribers for the current year, labour minister Santosh Kumar Gangwar said.Labour secretary Heeralal Samariya EPFO will have an excess of around Rs 151 crore at this rate. The finance ministry has to endorse this move and may limit ability of banks to lower deposit rates to remain competitive.
So far, there has been no default in interest or principal payment. We are watching the situation on future interest payments,” central provident fund commissioner Sunil Barthwal told reporters.
