Provident Fund

Centre approves 8.1% interest rate on employees' provident fund deposit for 2021-22

The 8.1 per cent EPF rate of interest is the lowest since 1977-78, when it stood at 8 per cent

EPFO interest rate better than other schemes, reflects today's realities, says Nirmala Sitharaman

She said the decision to lower interest rate was taken by the central board of the provident fund managing body, EPFO, which has representatives of all stakeholders including employees' unions

EPFO fixes 8.1% as interest rate, a over four-decade low, on EPF deposits for 2021-22

This is the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.

EPFO likely to credit interest for 2020-21 in accounts of over six crore subscribers; rate still at 8.5%

The finance ministry is expected to give its seal of approval to the decision soon

New labour codes on the cards: PF liability of companies to rise, workers to see reduction in take-home pay

Under the new wages code, allowances are capped at 50 percent. Employers have been splitting wages into numerous allowances to keep basic wages low to reduce provident fund and income tax outgo.

EPFO likely to announce interest rates on provident fund deposits for FY 2020-21 today

New EPFO enrolments have grown to 12.54 lakh in December 2020, a staggering 24 percent rise when compared to the same month for the year 2019

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

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

Employees' Provident Fund contribution can go higher than 10%, not of employers: Labour ministry

Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 percent of basic wages from 12 percent.

Coronavirus Lockdown: Govt implements cut in employees' provident fund contribution to 10% for May, Jun, July

The Ministry of Labour & Employment has implemented the decision to cut employees' provident fund (EPF) contributions to 10 per cent from the existing 12 per cent for three months till July

Lockdown: EPFO not charging penalty from companies for delay in payment of provident fund dues

Retirement fund body EPFO has decided not to impose any penalty for delay in payment of employees' provident fund contributions by firms during the natiowide lockdown