EPF account holders check their account 6 crore account holders start paying interest naidunia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naidunia.com Daily Mail and Mail on Sunday newspapers.
EPFOs Central Board of Trustees, the apex decision-making body under the labour minister, had in March this year approved 8.5% interest rate on EPF for 2019-20. In September, the retirement fund body had decided to split payment of 8.5% interest into two tranches of 8.15% and 0.35%.
Synopsis
Asian shares are set to end a tumultuous 2020 by hovering near record highs on Thursday, buoyed by hopes that COVID-19 vaccine rollouts will help the world beat the pandemic.
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India 10-year bond yield fell 0.73 per cent to 5.93 after trading in 5.89-5.93 range.
Domestic benchmark indices looked set for a cautious start on Thursday amid the expiry of December series futures & options contracts. Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 13 points, or 0.09 per cent, higher at 14,063, in signs that Dalal Street was headed for a flat to positive start on Thursday.
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Ravi S Singh
New Delhi, December 31
The Labour and Employment Minister Santosh Kumar Gangwar on Thursday announced that the implementation of the payment of 8.5 per cent rate of interest on employees’ provident fund (EPF) accounts for the year 2019-20 has been rolled out from today.
“A notification to this effect has been issued today. The process of crediting the new rate of interest in the accounts of over six crore subscribers of the EPFO has commenced,” Gangwar said and added that they included the employees who retired today.
The decision on the rate of interest and the notification in the matter was firmed up the government following the meeting of Gangwar with Union Finance Minister Nirmala Sitharaman.
ETMarkets Morning Podcast (ET Online) Little impact of new margin rule on trading volumes
06:56 Min | December 31, 2020, 8:56 AM IST
Here s a head up to some of the news we are tracking at this hour. Tune in!
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Transcript
Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. Avanti Feeds top gainer of last 10 years Margin rule impact on market volumes miniscule Pharma, IT funds on top for 2020
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And there is more. But first, a quick glance at the state of the markets..