EPFO6 crore people will get the gift in December, EPFO ​​took this decision!

EPFO

6 crore people will get the gift in December, EPFO ​​took this decision!


The Employees Provident Fund Organization (EPFO) will deposit a lump-sum of 8.5 percent interest in the Employees Provident Fund (EPF) accounts of around 6 crore shareholders for the financial year 2019-20 by the end of December. This decision of EPFO ​​is very happy news for the employees across the country. 

Earlier in September, the EPFO, under the chairmanship of Labor Minister Santosh Gangwar, decided to pay this interest in two installments. 8.15 percent interest was to be paid in the first installment and 0.35 percent in the second installment. 

PTI has quoted sources as saying that the Labor Ministry has sent a proposal to the Finance Ministry to pay 8.5% (full interest at one time) interest rate on EPF for 2019-20 at the beginning of this month. The finance ministry can approve this proposal in a few days.

In this case, full interest can be paid this month. The finance ministry had asked for some clarification on the interest rate of last year. In which all the answers have been given. At a CBT virtual meeting in September, EPFO ​​confirmed the promise of paying 8.5 per cent interest in the last fiscal year.

According to the news, the Labor Ministry has sent a proposal to the Finance Ministry to put 8.5 percent interest in the EPF at one time for 2019-20. This proposal has been sent this month. The approval of the Finance Ministry on this proposal is expected in a few days. In this case, interest will be added to the accounts of the shareholders this month. (Photo: Getty)

Explain, the 8.5 percent interest rate on EPF was approved for 2019-20 in the meeting of Central Trustee Board (CBT), the decision making body of EPFO, headed by Labor Minister Santosh Gangwar.

In the meeting of CBT in March, it was decided to fulfill the commitment of paying 8.5 percent interest. But with this the CBT had decided that 8.5 percent interest would be deposited in the accounts of the shareholders in two installments 8.15 percent and 0.35 percent. 




Comments

  1. UnknownDecember 19, 2020 at 10:37 AM

    Please clarify how it is a gift. Will EPFO pay extra over and above the declared rate of 8.5 percent ??

    ReplyDelete
  2. KrishnanDecember 19, 2020 at 2:52 PM

    It is not gift at all. Gimmicks!

    ReplyDelete
  3. BryantApril 21, 2021 at 5:01 AM

    Excellent read, Positive site, I have read a few of the articles on your website now, and I really like your style. I really appreciate your work.If you require aboutCompany registration in delhi | Company name regstration in delhi please click on it.

    ReplyDelete

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