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For 6 crore EPFO subscribers, EPF interest rate may remain unchanged

Friday, July 19, 2019, 8:12 PM

After a finance ministry proposal to cut down the EPFO interest rate for the last financial year 2018-19 was shot down by the labour ministry, EPF rates may remain unchanged for about 6-crore subscribers. In February, the retirement fund body, managed by the labour ministry, had announced a 10 basis points increase in the interest rate on provident fund deposits to 8.65% for 2018-19.
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EPFO says will stick to 8.65% rate for 2018-19

Friday, June 28, 2019, 12:00 PM

The labour ministry and Employees Provident Fund Organisation(EPFO) are sticking to the 8.65% return proposed by the retirement savings body's board of trustees, citing adequate reserves and the Narendra Modi government's pre-poll political backing to the plan. The finance ministry has objected to the proposal for increasing the payout for 2018-19 to 8.65% from 8.55% in the previous year, and sought a review.
 
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Job creation up at 8.14 lakh in March: EPFO

Tuesday, May 21, 2019, 6:25 PM

Net employment generation in the formal sector was higher at 8.14 lakh in March 2019 against 7.88 lakh in February this year, according to the latest EPFO payroll data. Around 67.59 lakh jobs were generated in the entire 2018-19 fiscal, the payroll data based on members joining the schemes of the Employees' Provident Fund Organisation (EPFO) showed.

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