Friday, August 18, 2017
facebook

google plus
Business

Posted at: Apr 21, 2017, 12:40 AM; last updated: Apr 21, 2017, 12:42 AM (IST)

Nod to 8.65% interest on EPF

New Delhi, April 20

Labour Minister Bandaru Dattatreya today said the Finance Ministry has approved 8.65% interest rate on EPF for 2016-17.

The ratification of the 8.65% on EPF will enable the retirement fund body EPFO to credit this rate of return into the accounts of four crore subscribers.

“Finance Ministry has agreed to 8.65% rate of interest. Now, the communication will come. The formal discussions are over,” the minister said.

He further said, “We will immediately issue the notification and credit the rate of interest to over four crore subscribers.”

The Employees’ Provident Fund Organisation trustees had approved 8.65% rate on EPF in December last year. — PTI

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On