Union Finance Ministry on Friday April 29,2016 increased interest rate on Employee Provident Fund (EPF) to 8.8% from the 8.7% decided earlier.
The decision was announced on a day trade unions held protests across the country against the lower interest rate.
The 8.7% interest rate for 2015-16, earlier ratified by the ministry, was lower than the 8.8% recommended by the retirement fund body EPFO.
Last year the rate was 8.75%
The decision was announced on a day trade unions held protests across the country against the lower interest rate.
The 8.7% interest rate for 2015-16, earlier ratified by the ministry, was lower than the 8.8% recommended by the retirement fund body EPFO.
Last year the rate was 8.75%
No comments:
Post a Comment