Monday, January 25, 2021
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

EPFO to pay 8.5% interest for FY20 in two instalments, cites COVID’s impact on income

Jaleel M. by Jaleel M.
September 9, 2020
in Business
0
EPFO to pay 8.5% interest for FY20 in two instalments, cites COVID’s impact on income
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter



An instalment of 8.15% will be paid for now, and the remaining 0.35% will be credited by December

Related posts

Union Budget 2021: Centre may announce formulation of ‘dedicated’ policy for toys sector

Union Budget 2021: Centre may announce formulation of ‘dedicated’ policy for toys sector

January 24, 2021
Ahead of Union Budget, traditional ‘halwa ceremony’ held at finance ministry; Nirmala Sitharaman launches mobile app

Ahead of Union Budget, traditional ‘halwa ceremony’ held at finance ministry; Nirmala Sitharaman launches mobile app

January 24, 2021

New Delhi: Retirement fund body EPFO on Wednesday decided to credit a part of 8.5 percent interest on employees provident fund (EPF) for 2019-20 into the account of its around 6 crore subscribers.

The decision to provide 8.15 percent interest now on EPF has been taken at the Employees’ Provident Fund Organisation’s (EPFO) trustees meet held on Wednesday, a source told PTI.

The remaining 0.35 percent rate of interest on EPF for 2019-20 would be credited into the subscribers’ account in December this year, the source further said.

The EPFO had earlier planned to liquidate some of its investment in exchange-traded funds to meet the deficit for providing 8.5 percent interest for the last fiscal.

However, it could not do so because of the choppy market conditions amid lockdown induced by COVID-19.

The EPFO’s apex decision making body Central Board of Trustees (CBT) will meet again in December and take a call on crediting the remaining 0.35 percent interest into subscribers accounts.

The issue was not listed on the agenda. However, some trustees raised the issue of delay in crediting interest into subscribers” account.

The board headed by Labour Minister Santosh Gangwar had decided to provide 8.5 percent interest rate for 2019-20 in its meeting held in March this year.

The source also said that the Finance Ministry has already given its concurrence to 8.5 percent interest for the last fiscal.

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.



Source link

Previous Post

Xiaomi one of the first brands to roll out Android 11 update: Features revealed

Next Post

Microsoft Xbox Series X will launch in November at $500

Next Post
Microsoft Xbox Series X will launch in November at $500

Microsoft Xbox Series X will launch in November at $500

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Apple plans to start selling online in India next month

Apple plans to start selling online in India next month

5 months ago
Hong Kong to relax some Covid-19 rules from Friday as third wave eases, East Asia News & Top Stories

Hong Kong to relax some Covid-19 rules from Friday as third wave eases, East Asia News & Top Stories

5 months ago
Smartphone mkt shrinks in Q2, but 40% recovery expected in 2nd half, CMR report

Smartphone mkt shrinks in Q2, but 40% recovery expected in 2nd half, CMR report

6 months ago
S. Korea revokes permits of 2 groups over anti-North propaganda, East Asia News & Top Stories

S. Korea revokes permits of 2 groups over anti-North propaganda, East Asia News & Top Stories

6 months ago

FOLLOW US

  • 79 Followers
  • 29.5k Followers
  • 82.6k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • KRISTIN LASH & JAKOB GREY Team Up On “Sleeping With The Lights On”

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • A Blackhat Hacker Durgesh Singh Kushwah Tells Us All!

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy