Retirement fund body Employees' Provident Fund Organisation (EPFO) is likely to increase the interest rate on PF deposits for 2015-16, from 8.75 percent fixed for the last two financial years, during its trustees' meet tomorrow. "Though the proposal for fixing rate of interest on PF deposits is not listed on agenda, the EPFO's apex decision making body the Central Board of Trustee (CBT) can announce rate in its meeting scheduled tomorrow," according to a source. The source further said the meeting is called mainly to discuss the restructuring of EPFO, but since the EPFO has worked out income projections for the current fiscal, the rate of interest can be fixed in tomorrow's meeting. The income projections for the current fiscal suggest that the body can pay rate of interest which is slightly higher than 8.75 provided in 2013-14 and 2014-15.
The Finance Ministry, however, wants EPFO to retain the existing interest rate of 8.75 percent for FY 2015-16.
Read more at: EPFO may raise interest rate on PF from 8.75% for FY16 - Moneycontrol.com
The Finance Ministry, however, wants EPFO to retain the existing interest rate of 8.75 percent for FY 2015-16.
Read more at: EPFO may raise interest rate on PF from 8.75% for FY16 - Moneycontrol.com
