EPF interest rate hiked to 8.8%
It was a matter of concern for salaried people, as Finance ministry had declined the recommendation of EPF department to increase the interest and instead reduced the rate from existing one, but now the rates are again changed.
In a roll-back, the government on Friday raised the interest rate on employee provident fund (EPF) contributions to 8.8 per cent for 2015-16 against 8.7 per cent approved by the Finance Ministry last week.
Labour Minister Bandaru Dattatreya announced the decision to raise interest rate on a day employee unions had called nationwide protests against fixing interest rates lower than 8.8 per cent decided by the retirement fund body EPFO as well as 8.75 per cent paid for the previous fiscal. more
In a roll-back, the government on Friday raised the interest rate on employee provident fund (EPF) contributions to 8.8 per cent for 2015-16 against 8.7 per cent approved by the Finance Ministry last week.
Labour Minister Bandaru Dattatreya announced the decision to raise interest rate on a day employee unions had called nationwide protests against fixing interest rates lower than 8.8 per cent decided by the retirement fund body EPFO as well as 8.75 per cent paid for the previous fiscal. more
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Sudheer Sir, if we don't like NaMo we can say that he is known for ditch. Otherwise he is putting all his efforts to cleanse first and take it forward. its not easy for any one to just to understand that what kind of mess has been created in 60 years plus. Now, only we are all understanding each and every steps of Govt so it helps us to go for petition or ask for change and so on means its towards transparency, yes mean time plus minus will be there, no one can be 100% perfect. Earlier also there were so many rules brought by the then Govt., but it was not known at all, now we are accessible to each and every thing. This is only helping us to ask for corrective measures. Few years back EPF interest was 9 plus % but it was brought down 3 years back itself and there were so many times this circus was down but public was not known. For him it takes time to show the result but there are so many areas wherein he has taken corrective measures the yield will come out after some time. From the day one we are asking for the result, is it practically possible, do you think that people just voted for him since he said he will bring the change, No not all, they considered many points and given him a chance so now we need to have patience. Need minimum 1-2 terms at least to turnaround. Entire world knows ow about us, as a PM he works 12-16 hrs per day, all these who worked like, our opposition party instead opposing constructively just for the shake of opposition they are opposing for each and every thing, neither they could able to do any thing all these years and now nor allowing others to do. Those who have voted for him are waiting for the result and they know that they will get the result as time is required for PM to deliver. And best part is ; those who did not vote for any party (sitting at home) OR those who did vote for someone else, only they are criticizing and kept on commenting from the day one he took over. more
May 02
The great FM Arun Jaitely must be shown the doors for taking flip flop decisions on EPF / saving for senior citizens and I am sure if this govt stop rhetoric and start concentrating on deliveries else this govt is going to meet the waterloo in forthcoming elections . more
Apr 30
Unfortunately, Modi Govt. has failed on most of fronts & all the promises made by NaMo in the run-up to elections. NaMo is known to ditch those who supported him - even Advani, let alone lesser humans like middle class & specially hit are the middle class senior citizens. This Govt. wants us to be grateful that IT limit on Mediclaim has been increased - really laughable. Senior citizen has to pay higher Service Tax on everything eben Mediclaim. On the other hand the only source of income for seniors - PPF will now fetch them lesser interest. Corruption goes on top down, Modi talked about corruption but not one prosecution has taken place after this Govt. has come to power, Pakistan & China playing truant, Prices have gone up. Most disappointing performance by Modi Govt. Beneficiaries are large business houses, Foreign businesses & perhaps in latest budget at-least outwardly agriculturists / villagers ( but they are not going to voet for him anyways as earlier). Let me say that BJP will go down exactly same way as 2004 come 2019 - these people are loosing touch with masses & likes of Jaitly have become arrogant thinking they can fool general public with their explanations of their wrong proposals. more
Apr 30
