Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

The Labour Ministry is modernizing its IT infrastructure to streamline services for India’s vast workforce. Starting in 2025, Employees' Provident Fund Organisation (EPFO) subscribers will gain direct access to their provident funds through ATMs.

EPFO withdrawals via ATMs starting January 2025

This modernization push underscores the ministry&rsquo;s commitment to leveraging technology and inclusive policies to support India&rsquo;s evolving workforce.

The Labour Ministry is modernizing its IT infrastructure to streamline services for India&rsquo;s vast workforce. Starting in 2025, Employees' Provident Fund Organisation (EPFO) subscribers will gain direct access to their provident funds through ATMs, reducing reliance on manual processes, according to Union Labour Secretary Sumita Dawra.
Highlighting ongoing enhancements, Ms. Dawra emphasized faster claims processing and user-friendly service delivery to improve ease of living. She projected significant IT system advancements by January 2025. The EPFO currently boasts over 70 million active contributors.
The government is also advancing plans to extend social security benefits to gig and platform workers. A comprehensive scheme under finalization may include health coverage, provident funds, and financial aid for disabilities. A committee of stakeholders is developing a framework to operationalize these benefits, as outlined in the Code on Social Security, 2020, which formally recognized gig workers and their welfare needs.
Addressing employment trends, the Labour Secretary noted a sharp drop in unemployment rates from 6% in 2017 to 3.2% today. She also highlighted growth in workforce participation, with the Labour Force Participation Rate and Worker Participation Ratio climbing steadily to 58%, reflecting increased employment levels.
This modernization push underscores the ministry&rsquo;s commitment to leveraging technology and inclusive policies to support India&rsquo;s evolving workforce.

As the government will tax the interest earned on Provident Fund (PF) contributions exceeding ₹2.50 lakh yearly from April 1st, our tax expert Avinash Gupta, Partner, APT and Co LLP, Former Chairman, Northern India Regional Council of Institute of Chartered Accountants of India explains further on this: 

Explained: How Interest on Provident Fund Likely to be Taxed From April 1

As the government will tax the interest earned on Provident Fund (PF) contributions exceeding ₹2.50 lakh yearly from April 1st, our tax expert Avinash Gupta explains further on this: 

<article id="article_11648609383617">
<div id="summary_11648609383617">
Provident Fund: From 1 April 2022, PF accounts are likely to be divided into two parts - taxable and non-taxable accounts
</div>
</article>
<div class="clearfix socialHolder Gplus">&nbsp;</div>

As the government will tax the interest earned on Provident Fund (PF) contributions exceeding&nbsp;₹2.50 lakh yearly from April 1st, our tax expert&nbsp;Avinash Gupta, Partner, APT and Co LLP,&nbsp;Former Chairman, Northern India Regional Council of Institute of Chartered Accountants of India explains further on this:&nbsp;
Also read/watch |&nbsp;<a title="Big tax changes from April 1: Here are the latest updates" href="https://www.editorji.com/business-news/personal-finance/big-tax-changes-from-april-1-here-are-the-latest-updates-1648713680377">Big tax changes from April 1: Here are the latest updates</a>

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of:Provident Fund becomes taxable&nbsp;The government has decided to tax the interest income from the Provident Fund account from April 1. If the contribution is below&nbsp;₹2.5 lakh, no tax will be levied. However if the contribution exceeds&nbsp;₹2.5 lakh - then the interest income will be taxed.Crypto&nbsp;tax kicks off&nbsp;Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1. As clarified by the Finance Ministry no loss can be offset against the gain so each profitable transaction will attract the 30 per cent tax liability.&nbsp;Apart from this, there will be a 1 per cent TDS and gift tax under certain conditions to be paid by the receiver of such digital asset as a gift.
Filing of updated ITRTaxpayers will be able to file an updated return from April 1 to eliminate errors or mistakes done in income tax returns. The updated return can be filed within two years from the end of the relevant assessment year.
Tax relief for persons with disabilityWhen the parent or guardian of a differently-abled person can take an insurance scheme for the latter, they would be eligible to deduction from gross income before tax subject to certain conditions.

 Big tax changes from April 1: Crypto, EPF, ITR all the latest updates

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of:

Big tax changes from April 1

Income tax on crypto assets, filing of updated returns, new tax rules on EPF interest all kick in from April 1&nbsp;

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of: Provident Fund becomes taxable&nbsp; The government has decided to tax the interest income from the Provident Fund account from April 1. If the contribution is below&nbsp;₹2.5 lakh, no tax will be levied. However if the contribution exceeds&nbsp;₹2.5 lakh - then the interest income will be taxed. Crypto&nbsp;tax kicks off&nbsp; Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1. As clarified by the Finance Ministry no loss can be offset against the gain so each profitable transaction will attract the 30 per cent tax liability.&nbsp; Apart from this, there will be a 1 per cent TDS and gift tax under certain conditions to be paid by the receiver of such digital asset as a gift.
Filing of updated ITR Taxpayers will be able to file an updated return from April 1 to eliminate errors or mistakes done in income tax returns. The updated return can be filed within two years from the end of the relevant assessment year.
Tax relief for persons with disability When the parent or guardian of a differently-abled person can take an insurance scheme for the latter, they would be eligible to deduction from gross income before tax subject to certain conditions.

The new regulation will give the flexibility to chose how to complete a 48 hour work-week cycle, so people could opt to work for 12 hours and have 3 days off in the week

4 day work week to higher PF; a new labour code is on the anvil 

 Half of the salary would be basic wages and allowances would be restricted to 50 per cent to increase PF payout as per reports quoting sources

4 day work week to sweeping changes to PF norms; a new labour code is on the anvil 

New Delhi, Dec 19 (PTI) The four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions are likely to be implemented by the next fiscal year as at least 13 states have pre-published draft rules on these laws, a senior official said.
The Centre has already finalised the rules under these codes and now states are required to frame regulations on their part as labour is a concurrent subject.
A senior official said that the four labour codes are likely to be implemented by the next fiscal year.
"The four labour codes are likely to be implemented in the next financial year of 2022-23 as a large number of states have finalised draft rules on these. The Centre has completed the process of finalising the draft rules on these codes in February 2021. But since labour is a concurrent subject, the Centre wants the states to implement these as well in one go," the official said.
Union Labour Minister Bhupender Yadav in a reply to the Rajya Sabha earlier this week had said that the Occupational Safety, Health and Working Conditions Code is the only code on which the least number of 13 states have pre-published the draft rules.
The highest number of draft notifications are pre-published on The Code on Wages by 24 states/UTs followed by The Industrial Relations Code (by 20 states) and The Code on Social Security (18) states.
In his reply to the Upper House, the minister explained that labour is in the Concurrent List of the Constitution and under the Labour Codes, rules are required to be framed by the central government as well as by the state governments.
The central government and some of the States/UTs have pre-published rules under the four labour codes. The central government is pursuing with the remaining state governments to frame the rules under all four Codes, he had said.
The central government has notified four labour codes, namely, the Code on Wages, 2019, on August 8, 2019, and the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 on September 29, 2020.
However, the Centre as well as states are required to notify rules under the four codes to enforce these laws in respective jurisdictions. Under the Codes, the power to make rules has been entrusted to the Central Government, State Government and appropriate Government and there is a requirement of publication of Rules in their official Gazette for a period of 30 or 45 days for public consultation.
As per the minister's reply, draft rules are pre-published by 24 states on The Code on Wages.
These states are Madhya Pradesh, Bihar, Uttarakhand, Karnataka, Uttar Pradesh, Gujarat, Odisha, Punjab, Chhattisgarh, Tripura, Rajasthan, Jharkhand, Arunachal Pradesh, Himachal Pradesh, Haryana, Maharashtra, Goa, Mizoram, Telangana, Assam, Manipur, UTs of Jammu and Kashmir, Puducherry and GNCT of Delhi.
Similarly, the 20 states which have pre-published draft rules on The Industrial Relations Code are Madhya Pradesh, Bihar, Uttarakhand, Uttar Pradesh, Gujarat, Odisha, Punjab, Chhattisgarh, Tripura, Karnataka, Jharkhand, Arunachal Pradesh, Haryana, Himachal Pradesh, Telangana, Manipur, Assam, Goa, UTs of Jammu and Kashmir and Puducherry.
As many as 18 states have pre-published draft rules on The Code on Social Security. These states are Madhya Pradesh, Bihar, Uttarakhand, Uttar Pradesh, Punjab, Chhattisgarh, Odisha, Jharkhand, Arunachal Pradesh, Haryana, Maharashtra, Tripura, Himachal Pradesh, Manipur, Assam, Gujarat, Goa and UT of Jammu and Kashmir.
As many as 13 states have pre-published draft rules on The Occupational Safety, Health and Working Conditions Code. These are Uttarakhand, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Odisha, Arunachal Pradesh, Haryana, Jharkhand, Punjab, Manipur, Bihar, Himachal Pradesh and UT of Jammu and Kashmir. PTI KKS ANZ MR

The Centre has finalized the new rules and states are expected to frame regulations by 2022-23. Here is all you need to know about India's new labour codes.

If you are looking to work only four days a week and possibly add more to your savings via a <a href="https://www.editorji.com/business-news/personal-finance/pf-rule-change-now-you-can-pay-your-lic-premium-through-your-epf-account-1638857056511">PF account</a> then the new labour code may have all that you wish for. PTI&nbsp;reports that the Centre is looking to implement four labour codes on wages, social security, industrial relations and occupation safety, health and working conditions from the fiscal year starting April 1.&nbsp; The Centre has finalised the rules under these codes in February 2021.&nbsp;Since labour is a concurrent subject, states are expected to frame regulations on their part after which the changes would be introduced.&nbsp;
According to a senior government official, at least 13 states have pre-published draft rules on these laws.
<h3>Here is what you can expect in the new labour code-</h3>
4 day work-week: The new regulation will give the flexibility to chose how to complete a 48 hour work-week cycle, so people could opt to work for 12 hours and have 3 days off in the week
PF norms change: Reports indicate that higher payout from employees to PF will lead to lesser in-hand/take-home salary.&nbsp;
Calculation of PF: Half of the salary would be basic wages and allowances would be restricted to 50 per cent to increase PF payout as per reports quoting sources
Also Read |&nbsp;<a href="https://www.editorji.com/business-news/personal-finance/now-you-don-t-have-to-transfer-your-pf-here-s-what-epfo-board-decision-said-1637471643375">Now you don&rsquo;t have to transfer your PF; here&rsquo;s what EPFO Board decision said</a>

PF interest rate boost for subscribers across the nation as the Finance Ministry on Friday approved 8.5% rate of interest of provident fund deposit for 2020-21 paving way for the Employees' Provident Fund Organisation (EPFO) to credit the interest.The&nbsp;EPF interest rate was kept unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year.&ldquo;People must appreciate that the government has maintained the rate of interest for 2020-21 despite a huge economic downturn due to COVID-19," Virjesh Upadhyay, EPFO board member and general secretary&nbsp;of Bharatiya Mazdoor Sangh&nbsp;was quoted saying.&nbsp;Read/Watch Also: EPFO&nbsp;rate at 7 year lowAn EPFO subscriber can check its EPF account balance by sending an SMS. The PF balance check number is 7738299899 and the text of the SMS format is &ldquo;EPFOHO UAN ENG." So, an EPF account holder, who has its UAN number, is advised to send SMS in this format to 7738299899. On receipt of the SMS, the EPFO will reply to that SMS with the senders' PF account balance details.

Diwali bonanza for your EPF: Find out how much interest you are going to get

Cheer for over 6 crore beneficiaries of Employees’ Provident Fund (EPFO) ahead of Diwali as the Finance Ministry gives nod to rate, interest to be credited soon. 

Better late than never! EPFO interest to get credited soon

<ul>
<li>Interest on your PF balance to be credited soon, Fin Min gives nod for rate&nbsp;</li>
<li>Finance Ministry gives nod for interest rate of 8.5% on&nbsp;EPF&nbsp;balance&nbsp;</li>
<li>EPF&nbsp;withdrawals in the last year were more than deposits&nbsp;</li>
<li>EPFO&nbsp;subscribers can check their balance by sending an SMS&nbsp;to&nbsp;7738299899</li>
</ul>

As per reports&nbsp; 8.5 per cent interest rate was approved by the finance ministry for FY21.

PF interest rate boost for subscribers across the nation as the Finance Ministry on Friday approved 8.5% rate of interest of provident fund deposit for 2020-21 paving way for the Employees' Provident Fund Organisation (EPFO) to credit the interest. The&nbsp;EPF interest rate was kept unchanged for FY 2020-21 as there was more withdrawal than deposits during the entire financial year. &ldquo;People must appreciate that the government has maintained the rate of interest for 2020-21 despite a huge economic downturn due to COVID-19," Virjesh Upadhyay, EPFO board member and general secretary&nbsp;of Bharatiya Mazdoor Sangh&nbsp;was quoted saying.&nbsp; Read/Watch Also: <a href="https://www.editorji.com/story/epfo-keeps-interest-rates-unchanged-at-8-5-for-fy-21-rate-at-7-year-low-1614822728594">EPFO&nbsp;rate at 7 year low</a> An EPFO subscriber can check its EPF account balance by sending an SMS. The PF balance check number is 7738299899 and the text of the SMS format is &ldquo;EPFOHO UAN ENG." So, an EPF account holder, who has its UAN number, is advised to send SMS in this format to 7738299899. On receipt of the SMS, the EPFO will reply to that SMS with the senders' PF account balance details.

Provident Fund set to give EPFO&nbsp;subscribers a bonanza as it gears to pay out the PF interest for FY'21 by November as per reports.&nbsp;The Mint quoting sources in govt says government employees and pensioners should expect PF interest credit along with their&nbsp;dearness allowance and dearness relief hike this festive season.&nbsp;The report indicated that the proposal has gone to&nbsp;the finance ministry&rsquo;s approval on going ahead with the 8.5% interest rate for 2020-21.&nbsp;EPFO has an active subscriber base of more than 60 million and every year it invests 15% of its annual accruals in equity and rest in debt instruments.&nbsp;

Provident Fund bonanza coming this Diwali

Your PF account already gearing to be in festive mood, find out what bonanza is planned for this Diwali

PF Bonanza

EPFO has an active subscriber base of more than 60 million

Provident Fund set to give EPFO&nbsp;subscribers a bonanza as it gears to pay out the PF interest for FY'21 by November as per reports.&nbsp; The Mint quoting sources in govt says government employees and pensioners should expect PF interest credit along with their&nbsp;dearness allowance and dearness relief hike this festive season.&nbsp; The report indicated that the proposal has gone to&nbsp;the finance ministry&rsquo;s approval on going ahead with the 8.5% interest rate for 2020-21.&nbsp; EPFO has an active subscriber base of more than 60 million and every year it invests 15% of its annual accruals in equity and rest in debt instruments.&nbsp;

There is good news for those who lost jobs during the Covid-19 pandemic. Finance Minister Nirmala Sitharaman announced on Saturday that the government will pay the provident fund (PF) share of employer and employee till 2022 for those people who lost their jobs, but were again called back to work in small-scale jobs. This is for formal sector employees and employers whose units are registered in the Employees' Provident Fund Organisation (EPFO).
The provisional payroll data of EPFO released on Friday highlighted a growing trend with as many as 12.83 lakh net payroll additions during June 2021.
Last year, the government had announced the Atmanirbhar Bharat Rozgar Yojana, under which it provides subsidy for the PF contribution for adding new employees to establishments registered with the EPFO.

Lost job during Covid? Govt will pay your PF share till next year. Here are details

There is good news for those who lost jobs during the Covid-19 pandemic. Finance Minister Nirmala Sitharaman announced on Saturday that the government will pay the provident fund share of employer and employee till 2022 for those people who lost their jobs, but were again called back to work in small-scale jobs. This is for formal sector employees and employers whose units are registered in the Employees' Provident Fund Organisation.
The provisional payroll data of EPFO released on Friday highlighted a growing trend with as many as 12.83 lakh net payroll additions during June 2021.
Last year, the government had announced the Atmanirbhar Bharat Rozgar Yojana, under which it provides subsidy for the PF contribution for adding new employees to establishments registered with the EPFO.

The government will pay the provident fund share of employer and employee till 2022 for those people who lost their jobs, but were again called back to work in small-scale jobs

There is good news for those who lost jobs during the Covid-19 pandemic. Finance Minister Nirmala Sitharaman announced on Saturday that the government will pay the provident fund (PF) share of employer and employee till 2022 for those people who lost their jobs, but were again called back to work in small-scale jobs. This is for formal sector employees and employers whose units are registered in the Employees' Provident Fund Organisation (EPFO).
Also See |<a href="https://www.editorji.com/story/your-pf-could-get-blocked-if-you-do-not-follow-this-rule-as-the-deadline-approaches-1628572701992" target="_blank">&nbsp;Your PF could get blocked if you do not follow this rule as the deadline approaches</a>
The provisional payroll data of EPFO released on Friday highlighted a growing trend with as many as 12.83 lakh net payroll additions during June 2021.
Last year, the government had announced the Atmanirbhar Bharat Rozgar Yojana, under which it provides subsidy for the PF contribution for adding new employees to establishments registered with the EPFO.

Family members are eligible to claim insurance from the Provident Fund if an employed member passes away due to Covid&nbsp;19. Here is what you need to know -:

Who is eligible? - If deceased was in employment for a continuous period of 12 months preceding the month of death irrespective of change of establishment
The membership of EDLI&nbsp;scheme is automatically provided to those covered in EPF.&nbsp;
How much is the claim amount -&nbsp;It is linked to the average of the provident fund account balance of an employee, minimum of Rs 2.5 lakh&nbsp;to maximum of Rs 7 lakh&nbsp;
Who can apply - Nominees (members of the family) designated under the EPF Scheme
&nbsp;

How to apply for the claim?

Nominees, family members, and legal heirs can fill out PF Form 5 IF to seek insurance benefits after the death of an active EPFO member.

There is no online option for form filling.&nbsp;Only the offline method can be used to fill out the form. Download the form from here&nbsp;Download EPF Form 15


To ensure that all benefits under the Schemes are processed, the form should be submitted with Form 20 (for claiming Provident Fund dues) and Form 10 D/10C (for Pension/Withdrawal Benefit as applicable).


The last employer must attest the&nbsp;application.


Must attach a canceled cheque to the form.

Documents required: Death Certificate Death certificate, Guardian certificate if nominee is not natural guardian or in case of a minor, Copy of a canceled/blank cheque of the bank account in which payment is opted.
&nbsp;



Family eligible for 7 lakh life insurance through PF account, here is what you need to know.

Family eligible for ₹7 lakh life insurance through the PF account if member&nbsp; dies of Covid 19. Here is how one can apply and claim through this scheme.&nbsp;

Family to get up to Rs 7 lakh if employee dies of Covid-19

Family members are eligible to claim insurance from the Provident Fund if an employed member passes away due to Covid-19. Here is what you need to know -:
<ul>
<li>Who is eligible? - If deceased was in employment for a continuous period of 12 months preceding the month of death irrespective of change of establishment</li>
<li>The membership of EDLI&nbsp;scheme is automatically provided to those covered in EPF.&nbsp;</li>
<li>How much is the claim amount -&nbsp;It is linked to the average of the provident fund account balance of an employee, minimum of ₹2.5 lakh&nbsp;to maximum of ₹7 lakh&nbsp;</li>
<li>Who can apply - Nominees (members of the family) designated under the EPF Scheme</li>
<li>&nbsp;</li>
</ul>
How to apply for the claim?
<ul>
<li>Nominees, family members, and legal heirs can fill out PF Form 5 IF to seek insurance benefits after the death of an active EPFO member.</li>
<li>
There is no online option for form filling.&nbsp;Only the offline method can be used to fill out the form. Download the form from here&nbsp;<a href="https://www.epfindia.gov.in/site_docs/PDFs/Downloads_PDFs/Form5IF.pdf Read more at: https://www.goodreturns.in/personal-finance/planning/epf-covid-claim-nominee-can-claim-epf-insurance-upto-rs-7-lakh-form-v-if/articlecontent-pf19023-1209286.html" target="_blank">Download EPF Form 15</a>
</li>
<li>
To ensure that all benefits under the Schemes are processed, the form should be submitted with Form 20 (for claiming Provident Fund dues) and Form 10 D/10C (for Pension/Withdrawal Benefit as applicable).
</li>
<li>
The last employer must attest the&nbsp;application.
</li>
<li>Documents required: Death certificate, Guardian certificate if nominee is not natural guardian or in case of a minor, Copy of a canceled/blank cheque of the bank account in which payment is opted.
&nbsp;
</li>
</ul>

EPF Interest Rate: EPFO board at its meet in Srinagar today decided to keep rates steady at 8.5% for FY'21 as per reports. 

EPF Interest Rate 2020-21 | EPFO board keeps rates at 7 year low

EPFO keeps interest rates unchanged at 8.5% for FY-21; rate at 7-year low

Even as heavy withdrawals&nbsp;have hit the provident fund corpus the EPFO&nbsp;board at its meet in Srinagar&nbsp;today decided to keep rates steady at 8.5% for FY'21 as per reports. The EPFO&nbsp;rate will have to be approved by the finance ministry to be notified.&nbsp;
The EPF&nbsp;rate has seen a sharp drop over the years is now at a 7-year low at 8.5%
FY17: 8.65% FY18: 8.55% FY19: 8.65% FY20: 8.5% 6 lakh&nbsp;subscribers will at least be grateful&nbsp;that the govt has not reduced the rate further as was the expectations before the meet.&nbsp;

Even as heavy withdrawals&nbsp;have hit the provident fund corpus the EPFO&nbsp;board at its meet in Srinagar&nbsp;today decided to keep rates steady at 8.5% for FY'21 as per reports. The EPFO&nbsp;rate will have to be approved by the finance ministry to be notified.&nbsp;
The EPF&nbsp;rate has seen a sharp drop over the years is now at a 7-year low at 8.5%
<ul>
<li>FY17: 8.65%</li>
<li>FY18: 8.55%</li>
<li>FY19: 8.65%</li>
<li>FY20: 8.5%</li>
</ul>
6 lakh&nbsp;subscribers will at least be grateful&nbsp;that the govt has not reduced the rate further as was the expectations before the meet.&nbsp;

EPFO may credit 8.5% interest for FY20 in two instalments

The Employees&rsquo; Provident Fund Organisation on Wednesday recommended crediting the 8.5% interest rate to formal sector workers for FY20 in two instalments. It would comprise of 8.15% from debt income, which will be credited now and the remaining 0.35% will be credited in December subject to redemption of the EPFO&rsquo;s equity investments.
The&nbsp;EPFO&nbsp;is staring at a shortfall of ₹2,500 crore in FY20 if it gives out the interest rate of 8.5% to its subscribers at one go. The interest rate of 8.5% was already a seven-year low. If the EPFO is unable to credit the remaining 0.35% of interest rate in December this year, it will be the lowest returns that the fund's subscribers will get since 1977-78.
The EPFO&rsquo;s investments in the equity markets are&nbsp;yielded negative returns in 2019-20.

The Employees&rsquo; Provident Fund Organisation on Wednesday recommended crediting the 8.5% interest rate to formal sector workers for FY20 in two instalments. It would comprise of 8.15% from debt income, which will be credited now and the remaining 0.35% will be credited in December subject to redemption of the EPFO&rsquo;s equity investments.
The&nbsp;EPFO&nbsp;is staring at a shortfall of ₹2,500 crore in FY20 if it gives out the interest rate of 8.5% to its subscribers at one go. The interest rate of 8.5% was already a seven-year low. If the EPFO is unable to credit the remaining 0.35% of interest rate in December this year, it will be the lowest returns that the fund's subscribers will get since 1977-78.
The EPFO&rsquo;s investments in the equity markets are&nbsp;yielded negative returns in 2019-20.

provident fund organisation

Categories