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EPF interest rates: EPFO retains 8.5% rate for 2020-21 The EPFO s central board of trustees, who met in Srinagar, ratified the rate after assessing earnings and financial positions. The meeting was chaired by Labour and Employment Minister Santosh Kumar Gangwar BusinessToday.In | March 4, 2021 | Updated 15:10 IST EPFO s financial advisory panel had already met on Wednesday evening, March 3, and recommended the retirement fund body s board to retain the interest rate at 8.5% The Employees Provident Fund Organisation (EPFO) on Thursday, March 4, kept the interest rate intact at 8.5% for fiscal 2020-21, keeping it unchanged from last year. The retirement body s central board of trustees, who met in Srinagar, ratified the rate after assessing earnings and financial positions. The meeting was chaired by Labour and Employment Minister Santosh Kumar Gangwar. ....
The Employees Provident Fund Organisation s (EPFO) apex decision-making body Central Board of Trustees decided to fix 8.5 per cent rate of interest for 2020-21 at its meeting in Srinagar on Thursday, sources said.
India Business News: The Employee's Provident Fund Organisation (EPFO) on Thursday decided to retain the interest rate on provident fund deposits at 8.5% for the financial ....
The Employees Provident Fund Organisation in a circular stopped the “major corrections option in member profile stating that it could lead to mismatch of records and fraudulent withdrawals. The organisation in a circular said, A complete change in the member profile cannot be allowed in the normal course through online or offline process, except in extreme situations where it has been proven that the member’s name has been changed following the due process prescribed in law, or there has been an erroneous upload of data by the employer on production of documentary evidence, by the member and employer, and after due verification. ....
EPFO started crediting 8.5 per cent interest on EPF for 2019-20 for its over six crore members. Provident Fund (PF) Balance: Recently, retirement fund body Employees Provident Fund Organisation (EPFO) announced that it has started crediting 8.5 per cent rate of interest on employees provident fund (EPF) for 2019-20 for its over six crore members. Now account holders can see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20. According to the EPF website - epfindia.gov.in, in an EPF account, an employee contributes 12 per cent of his or her salary towards the account, and an equal amount is contributed by the employer. EPFO is the nodal body of EPF and allows subscribers to view the EPF passbook online through its website. EFPO also provides the balance information via missed call facility and SMS service. ( ....