EPFO to pay 8.75 per cent interest on PF deposits in 2014-15

Tags: News
Retirement fund body EPFO's trustees today decided to retain interest payment on provident fund deposits for 2014-15 at 8.75 per cent.

"It has been decided to pay 8.75 per cent interest in the current fiscal," Central Provident Fund Commissioner (CPFC) K K Jalan told PTI after the meeting of the Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisation (EPFO).

The EPFO has about 5 crore subscribers and the decision will have a bearing on their retirement fund.

The decision to retain the interest rate on the provident fund deposits at last year's level was taken despite some protest by the trade union members of the CBT, sources said.

The final notification for payment of the interest rate for the current fiscal will be issued by the Finance Ministry later.

The EPFO had provided 8.75 per cent rate of interest on PF deposits for 2013-14, which was higher than 8.5 per cent paid for the previous fiscal.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The sudden crisis in oil exporting economies offers India big opportunity

    The unprecedented 6.5 per cent single-day hike in Russian interest rates on Tuesday and the subsequent devaluation of the ruble from 60 to the dollar

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Why do we shoot, load and then aim?

There is a joke about what Indians would do in ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Dharmendra Khandal

Protecting jungle cats is vital

In what can only be called a cat night, we ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture