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Thursday, December 26, 2013

EPFO to decide PF interest rate on January 14

EPFO acts tough on firms delaying employees’ Provident Fund claims
Cabinet proposal soon to constitute 7th Pay Commission for revising salaries Retirement fund body Employees’ Provident Fund Organisation (EPFO) will announce the interest rate on provident fund (PF) deposits for the current financial year on January 14 and may offer its over 5 crore subscribers a little more than 8.5 per cent provided in 2012-13.

“The decision on interest rate on PF deposits for this fiscal is pending for long and a decision would be taken by the board in the next meeting,” said Central Provident Fund Commissioner KK Jalan. A decision on the interest rate could not be taken as the Central Board of Trustees has not met after it was reconstituted in May. 

Source: Financial Express
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