Fin Min ratifies 8.65% rate on EPF: Labour Minister

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..... Fin Min ratifies 8.65% rate on EPF: Labour Minister
News and Press Release
Dated:- 20-4-2017

New Delhi, Apr 20 (PTI) Labour Minister Bandaru Dattatreya today said that the Finance Minist .....

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..... ry has approved 8.65 per cent interest rate on EPF for 2016-17. The ratification of the 8.65 per cent on EPF will enable the retirement fund body EPFO to credit this rate of return into the accounts .....

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..... of four crore subscribers. "Finance Ministry has agreed to 8.65 per cent rate of interest. Now, the communication will come. The formal discussions are over," the minister said. He further .....

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..... added, "We will immediately issue the notification and credit the rate of interest to over four crore subscribers." The Employees' Provident Fund Organisation trustees had approved 8.6 .....

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..... 5 per cent rate on EPF in December last year. The Finance Ministry has been nudging the Labour Ministry to lower the EPF rate for aligning it with the rates of small savings schemes like PPF.
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..... s - Press release - PIB .....

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