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.

EDITORIAL OF THE DAY

  • There is no reason why SEBs be burdened with unviable power assets

    It is indeed unfair that state power agencies be burdened with unviable power assets of Tatas, Essar, Reliance, Adani and other major power generators

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : THE LAST SHEPHERD

The deep sense of foreboding was still to set in, ...

Rajgopal Nidamboor

Think outside the box

Creativity is the proviso of being resourceful. It connotes something ...

Kuruvilla Pandikattu

Tech is but a tool, digital era or not

Does our digital world make us make happier? We ...