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Over 6 crore EPFO members to get 8.65% interest for 2018-19: Labour Minister Santosh Gangwar

September 17, 2019 4:59 pm

Provident Fund (EPFO) Interest Rate 2018-19: The Central Board of Trustees (CBT) of the EPFO in February recommended hiking the interest rate for its 6-crore active subscribers to 8.65 per cent for 2018-19 from a five-year low of 8.55 per cent.

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Net payroll addition at EPFO up 43 per cent June

August 22, 2019 3:28 am

The Employees’ State Insurance Corporation (ESIC) reported a 5.3 per cent decline in net addition in June, compared with the previous month.

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Provident Fund interest rate is up; is this the best instrument for small savings?

February 21, 2019 11:10 pm

Provident Fund interest rate hike: The Central Board of Trustees' proposal will now go to the Finance Ministry for approval. The interest rate is credited into the accounts of subscribers after it receives the concurrence of the Finance Ministry.

Parliamentary panel seeks strong norms for exemption to PF trusts

July 24, 2018 8:16 pm

The 31-member committee headed by Lok Sabha member Kirit Somaiya found that as many as 118 establishments had a total corpus of less than Rs 1 crore and the last return filed by them dates back to 2014 and 2015.

Idle accounts clean-up, cross verification hold up interest credit for FY18

Don’t deny pensions for lack of Aadhaar, EPFO tells banks

April 11, 2018 2:20 am

In cases when neither iris nor fingerprint authentication works, the EPFO has asked banks to record the beneficiaries’ details in an ‘exception register’ and the pension must be provided based on the paper life certificate.

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Maharashtra ranks second in PF defaulters in 2015-16

June 04, 2016 2:42 am

The Financial Express reported in March that the Employees Provident Fund Organisation (EPFO) could attach properties and seize bank accounts of the Vijay Mallya-promoted firm.

‘No plan of reversing as of now’: FinMin defends lower PF rate, cites fund crunch

April 28, 2016 2:04 am

An interest rate of 8.7 per cent would leave a surplus of around Rs 1,000 crore with EPFO for 2015-16, lower than the surplus of Rs 1,604.05 crore for 2014-15, the official said.

Provident fund: Eventual solution, back to square one

April 22, 2016 1:36 am

This has been the second rollback on the revised EPF withdrawal norms announced in this year’s budget — the government had to earlier scrap its proposal to make 40 per cent of the corpus taxable on withdrawal.

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Pension Deforms

April 21, 2016 12:02 am

Government has (mis)handled EPF reforms. One step forward, two steps rollback, shows lack of homework, consultation.

Provident fund: Protests force govt to ease rules it tightened

April 20, 2016 1:44 pm

In February, the ministry had issued a notification restricting 100 per cent withdrawal of provident fund by members after unemployment of more than two months, among others.

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EPF rollback: Trade unions protest in Bengaluru

April 19, 2016 10:41 pm

Under pressure from protesting trade unions, the Centre has cancelled a notification that tightened rules for the withdrawal of Employees’ Provident Fund (EPF) accumulations till the age of 58.