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IndiaPosted at: Apr 25 2016 8:54PM


Govt approves 8.7 pc interest on EPF; BMS protess decision

New Delhi, Apr 25 (UNI) The Government has approved 8.7 per cent interest rate on Employees Provident Fund (EPF), which is lower than 8.8 per cent decided by the Central Board of Trustees.
The Information about new interest rate was given to the Lok Sabha by Labour Minister Bandaru Dattatreya in a written reply to the House.
‘’The EPFO’s apex decision-making body CBT, at its meeting held in February 2016 proposed an interim rate of interest at 8.8 per cent to be credited to the accounts of Employees Provident Fund subscribers for 2015-16. The Ministry of Finance has, however, ratified an interest arte of 8.7 per cent,’’ the Minister said.
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