RETIREMENT fund body Employees’ Provident Fund Organisation (EPFO) on Tuesday hiked interest rate on employees’ provident fund(EPF) to 8.15% for 2022-23 from 8.1% in the previous year.
The Central Board Trustees (CBT)’s recommendation involves distribution of more than ₹90,000 crore in the members’ account on the total principal amount of about ₹11 lakh crore, which was ₹77,424.84 crore and ₹9.56 lakh crore, respectively in the FY 2021-22, the Ministry of Labour and Employment said.
The total income recommended for distribution is highest till date and last year’s 8.1% was the lowest in four decades.
Bu hikaye The New Indian Express dergisinin March 29, 2023 sayısından alınmıştır.
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Bu hikaye The New Indian Express dergisinin March 29, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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