Government can decide Interest Rate on Provident Fund on November 23

The meeting of the Central Board of Trustees of the Employees Provident Fund Organization (EPFO) will be held on November 23 – Get every information related to EPFO @EPFOSCHEME.IN

The meeting of the Central Board of Trustees of the Employees Provident Fund Organization (EPFO) will be held on November 23, in which the interest rate on provident fund deposits for the current financial year can be decided. A senior government official said that the rate of interest payable on provident fund deposits for 2017-18 can be kept before the trustee board for approval.

EPFO Shareholders

EPFO has more than 45 million shareholders. In December last year, the Board of Trustees decided to reduce the EPF interest rate to 8.65 percent for 2016-17, which was 8.8 percent for 2015-16. According to a report, the interest rate on your PF can be reduced for the current financial year.

The officials said that the proposal to put the shareholder’s share in EPF investment in their respective accounts can also be considered in the meeting. This issue was on the agenda in the Board of Trustees meeting this year and it was sent to the Comptroller and Auditor General.

EPFO Investment

The CAG has given theoretical clearance on the proposal but sought clarification. According to an estimate, the EPFO’s investment in the Exchange Traded Fund ETF could increase to Rs 45,000 crore by the end of the current financial year.

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