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EPF Online Transfer & balance check is the fund that is in your EPF Account statement. EPF balance is an amount deducted every month from employee salary plus and the amount is contributed to employee EPF account by their employer. Knowing our EPF balance can be a good thing of employee retirement savings. Present day’s employees would… Read More »
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EPF interest rated increased to 8.65 per cent ahead of the Lok Sabha polls
EPF interest rated increased to 8.65 per cent ahead of the Lok Sabha polls
The Hush Post | 7:34 pm | One-minute read |
Ahead of the Lok Sabha polls, the Employees’ Provident Fund Organisation (EPFO) has recommended increasing the rate of interest on Employees` Provident Fund (EPF) for the current financial year. For the financial year 2018-19, the interest rate is proposed at 8.65 per cent per annum. Last year the interest rate on EPF was 8.55 per cent.
The move is set…
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Good news for salaried employees: EPFO likely to hike rate ahead of polls
In what could bring cheer to 60 million salaried employees, the Employees’ Provident Fund Organisation (EPFO) may raise interest rates from 8.55 per cent currently. Three officials with knowledge of the matter told Live Mint that if not raised, it will at least be retained at the existing level, making it one of the most rewarding savings scheme.
Although the EPFO rate is declared in December every year, there was a slight delay in 2018 as the account audit was still being done. It is now expected to be announced on February 1.
There is little scope for reducing the rate and efforts would be made to increase the return, Prabhakar Banasure, member of EPFO’s central board of trustees, told the business daily.
The interest rate would be in line with what the government recently announced incentives such as a nearly 50 per cent hike in incentives for frontline health workers, including those working at Integrated Child Development Scheme centres (anganwadis). The government has also made the National Pension System (NPS) withdrawals tax-free. Read More
 Business Standard
