Highlights
8.5 percent rate of interest for 2019-20.
Interest amount credited.
New Delhi: The Narendra Modi government has given a big bonanza to around six crore EPF subscribers who have been eagerly waiting for the crediting of interest for 2019-20 in their employees provident fund (EPF) accounts.
The EPFO has already started crediting the amount into the PF account of subscribers.
Labour and Employment minister Santosh Gangwar, announcing the decision on Thursday (December 31) had said that PF subscribers will start receivig 8.5 percent interest on their PF amount from December 31 onwards.
“I am happy to inform you that a notification has been issued & for year 2019-2020, our over 6 crore subscribers will receive 8.5 percent interest on PF amount. We have made such arrangements that you ll start receiving these benefits from today,” Union Minister Santosh Gangwar said yesterday.
Highlights
8.5 percent rate of interest for 2019-20.
Interest amount credited.
New Delhi: Around six crore EPF subscribers who have been eagerly waiting for the final nod from the finance ministry on crediting of 8.5 percent rate of interest for 2019-20 in their employees provident fund (EPF) accounts, have got a big new year gift.
Zee Media has learnt from sources that the EPFO has credited 8.5 percent rate of interest for 2019-20 in employees provident fund (EPF) accounts today.
However, we would still be waiting for the official confirmation on the above.
Meanwhile the retirement fund body EPFO had previously tweeted that subscribers can check their PF Balance from the comfort of home using four different ways check PF balance using SMS, online, missed call and UMANG App.
EPFO to credit full 8.5% interest for FY20: How to check balance
The finance ministry likely has given nod to the EPFO for interest rate recommendation of 8.5 percent for FY20 and according to the report in Indian express, it is expected to credit it to subscribers in the next few days.
Source: Reuters
The retirement fund body Employees Provident Fund Organisation (EPFO) has decided to credit 8.5 percent interest for 2019-2020 in the EPF accounts of around 6 crore subscribers.
The finance ministry has given nod to the EPFO for interest rate recommendation of 8.5 percent for FY20, and it is expected to credit it to subscribers in the next few days.
Highlights
8.5 percent rate of interest for 2019-20.
Interest amount credited.
New Delhi: Around six crore EPF subscribers who have been eagerly waiting for the final nod from government on crediting of interest for 2019-20 in their employees provident fund (EPF) accounts, have got a big new year gift.
Labour and Employment minister Santosh Gangwar has said that PF subscribers will start receivig 8.5 percent interest on their PF amount from today onwards.
“I am happy to inform you that a notification has been issued & for year 2019-2020, our over 6 crore subscribers will receive 8.5 percent interest on PF amount. We have made such arrangements that you ll start receiving these benefits from today,” Union Minister Santosh Gangwar said.
Highlights
Amendments in wake of COVID-19 crisis.
EPFO members were allowed to apply for withdrawal online.
New Delhi: Around six crore EPF subscribers are waiting for the final nod from the finance ministry on crediting of 8.5 percent rate of interest for 2019-20 in their employees provident fund (EPF) accounts.
Though there is yet to be any official confirmation on the above, it is being reported that the news would be coming anytime soon. 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.