The Employees’ Provident Fund Organisation (EPFO) decided to give 8.5 per cent interest on provident fund deposits of 4.5 crore subscribers.
The decision to recommend 8.5 per cent interest rate, the same as the last fiscal, to the Finance Ministry was taken by EPFO’s Central Board of Trustees (CBT).
The CBT, the apex policy making body of EPFO, decided to retain the interest rate at the existing level at a meeting which was chaired by Union Labour Minister M Mallikarjun Kharge.
Payment of 8.5 per cent interest rate on provident fund deposits, which are of the order of Rs 1.82 crore, is expected to leave a surplus of Rs 6.4 crore during the current fiscal.
Last 5 posts by Deepak Shrivastava
- UK Finance for Business - August 27th, 2010
- Financial Benefits of Outsourcing - August 16th, 2010
- How to Find the Best Financing - August 10th, 2010
- Veteran Business Loans - August 6th, 2010
- Review Your Finances Regularly - August 3rd, 2010