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EPFO declares average interest of 8.67% in 3 yrs

The rate of interest during 2014-15 has been declared at 8.75 per cent, 8.75 per cent in 2013-14 and 8.50 per cent during 2012-13, Labour Minister Bandaru Dattatreya said in Parliament on Monday.

 
 
"We may take the step within a couple of months," a senior EPFO official said on the condition of anonymity.
Account holders can now apply for withdrawal online from 1 April.
Retirement fund body EPFO is planning to provide medical benefits under its pension scheme which would immediately benefit  46 lakh pensioners.
He further said that these agents would be trained to cater to employers as well as employees who could be educated or uneducated.
In its meeting, the Central Board of Trustees would deliberate on investment challenges in the changed economic scenario particularly in equity.
 
 
Wide-ranging changes are in the offing in the National Pension System, says Pension Fund Regulatory and Development Authority (PFRDA) Chairman Hemant G Contractor.
The pensioners have said that the proposed move was unjust and against the promises made to the crores of pensioners across the country.
Employees' Provident Fund Organisation (EPFO) has launched a helpdesk to assist inoperative account holders to settle or transfer their funds.
The year proved to be a watershed with the Employee Provident Fund Organisation (EPFO) effecting many changes in the way the fund is managed.
HDFC Securities offers this service in collaboration with WillJini, a legal partner, which assists individuals to write their personal "e-Will" online.
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