Sunday, September 28, 2025
spot_img

EPFO: Finance Ministry indicates, 8.5% EPF Interest to be credited soon

spot_img
- Advertisement -

EPFO: Finance Ministry indicates, 8.5% EPF Interest to be credited soon

According to Indian Express report, EPFO is learned to have got clearance from the Finance Ministry for an interest rate recommendation of 8.5 per cent for FY20 and is expected to credit it to epf subscribers in the next few days.

EPFO is looking at crediting the interest rate in one go instead of a split of 8.15% and 0.35% proposed earlier.

In September this year, the Employees Provident Fund Organisation had decided to split 8.5 percent interest into two installments of 8.15 percent and 0.35 percent in its trustees meet headed by Labour Minister Santosh Gangwar.

However, the source said that the Labour Ministry had sent a proposal to the Finance Ministry to give concurrence to credit 8.5 per cent rate of interest on EPF for 2019-20. The officials of both labour and finance ministries held meetings this week regarding the same and now, the Finance Ministry has given the nod and 8.5% EPF Interest to be credited in next few days in EPF subscribers account.

Subscribe to our Daily Newsletter!

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Infosys Variable payout for Q3 is down to 73% from 80% in Q2

Indian IT giant Infosys reduced its average variable pay...

TCS ends Anniversary Appraisal Policy for new lateral employees

According to media reports, India’s largest IT services provider, Tata Consultancy...

Delhivery all-women workforce Delhivery’s Moga hub in Punjab

Ahead of International Women’s Day, Delhivery, India’s largest integrated...

8th Pay Commission Delayed? What It Means for Retirees

8th Pay Commission, which is set to revise the...

Reflecting on 2023: Key Learnings in the Indian HR Landscape

In 2023 the companies have either seen layoffs or hiring...

LTIMindtree Hiring 500+ Jobs: Lateral and Entry-Level Roles

LTIMindtree, India’s sixth-largest IT services firm is actively hiring...

TCS Women Hiring: Walk-in drive on Jan 21, Registration ends on Jan 18

India's largest IT services provider, Tata Consultancy Services (TCS)...

WPP appoints Lindsay Pattison as Global Chief People Officer

The creative transformation company, WPP has announced the appointment...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/