EPFO fixes 8.65% interest on PF deposits for FY17
.jpg)
New Delhi: The Employees Provident Fund Organization (EFPO) on Monday fixed 8.65% as the interest rate on Employees Provident Fund (EPF) deposits for its over four crore subscribers for the fiscal 2017.
The retirement fund body was expected to retain 8.8% as the rate of interest on PF deposits at its trustees meeting on Monday.
The finance ministry had earlier this year decided to lower interest on EFF for 2015-16 to 8.7% from the 8.8% approved by the Central Board of Trustees (CBT) headed the labour minister.
The government had to roll back the decision and provide 8.8% rate of interest on EPF deposit for 2015-16 following protests by trade unions. As per the EPFO income projections of Rs39,084 crore for the current fiscal, providing 8.8% rate of interest on EPF deposits will leave a deficit of Rs383 crore. There would be a surplus of about Rs69.34 crore if interest rate is lowered to 8.7%.
Other Latest News
.webp)
A day after her suspension from KCR-led BRS, senior leader K Kavitha on Wednesday announced her resignation from the party and trained her guns against cousin and former minister T Harish Rao.
Kavitha, daughter of party founder and former Telangana Chief Minister K Chandrasekhar Rao(KCR), also announced quitting as Member of the Legislative Council and indicated there was 'pressure' on her father to act against her.
.webp)
Food delivery and quick commerce company Eternal Limited, which owns Zomato and Blinkit brands, has increased its platform fee on food delivery orders from ₹10 to ₹12, a 20 per cent rise. The hike, effective Tuesday (September 2), comes less than a year after the previous revision.
Zomato, led by CEO Deepinder Goyal, first introduced the fee at ₹2 in August 2023 as part of a strategy to improve margins and move toward profitability.
.webp)
The National Democratic Alliance (NDA), led by the Bharatiya Janata Party (BJP), has announced a bandh in Bihar on September 4 to protest against alleged abuses directed at Prime Minister Narendra Modi during the Congress' 'Voter Adhikar Yatra' in the state. The BJP Mahila Morcha will lead the demonstration.
.webp)
Mumbai’s popular restaurant, Bastian Bandra, co-owned by actor Shilpa Shetty, will shut its doors this Thursday (September 4). The closure comes amid allegations of a ₹60 crore fraud involving Shetty and her husband, Raj Kundra.
Shetty took to her Instagram stories to share a note with her followers. “This Thursday marks the end of an era as we bid farewell to one of Mumbai's most iconic destinations - BASTIAN BANDRA.
.webp)
US President Donald Trump on Tuesday strongly denied social media rumours about his deteriorating health. Some posts had claimed that he was seriously unwell or even dead. Speaking to journalists in the Oval Office, the 79-year-old leader called the claims “fake” and criticised the media for amplifying them.
.webp)
.webp)
.webp)
.webp)
.webp)
