ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Foreign portfolio investors' exodus continues for 9th month; withdraw Rs 50,203 cr from equity market in June - know reasons
  • Windfall tax to recoup most of Rs 1 lakh cr revenue lost in excise cuts, industry sources say
  • D-Mart Q1 revenue jumps almost 2-fold to Rs 9,806.89 cr
  • This Android malware switches off Wi-Fi and drain mobile wallet
  • North Korea says US, South Korea-Japan agreement materialises US plan for 'Asian NATO'
Read in App
Business News » Personal Finance News

EPFO likely to announce 8.55% interest on EPF for FY19

The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
EPFO likely to announce 8.55% interest on EPF for FY19
Once approved by the CBT, the proposal is required concurrence of the Finance Ministry. The interest rate is credited into the subscribers account after the Finance Ministry's approval. Image source: Reuters

Retirement fund body EPFO is likely to announce an interest rate of 8.55 per cent on PF deposits for 2018-19, same as provided in 2017-18, to its 6 crore subscribers, a highly placed source said. 
"The proposal to declare interest rate for this fiscal is on the agenda of the Employees' Provident Fund Organisation (EPFO) trustees meeting on February 21, 2019," a source said. 

The source further said, "The interest rate is likely to be retained at 8.55 per cent for this fiscal as provided in 2017-18 as Lok Sabha elections are around the corner. However the EPFO's income estimates for 2018-19 has not been circulated among the trustees and will be tabled in the meeting."

Earlier the sources had not dismissed completely speculations that interest rate on EPF deposits for this fiscal can be more than 8.55 per cent in view of impending general elections.

The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year.

Once approved by the CBT, the proposal is required concurrence of the Finance Ministry. The interest rate is credited into the subscribers account after the Finance Ministry's approval.

The EPFO had provided a five-year low rate of interest of 8.55 per cent to its subscribers for 2017-18. The body had kept the interest rate at 8.65 per cent in 2016-17 and 8.8 per cent in 2015-16. It provided 8.75 per cent interest for 2013-14 as well as 2014-15. The rate of interest was 8.5 per cent in 2012-13.

The EPFO trustees can also announced the appointment of new fund managers. 

The trustee would also review the performance of investments made by the body in stock markets.

Watch this Zee Business video

The EPFO had started investing in the ETFs (exchange traded funds) in August 2016. Presently it invests 15 per cent of its Rs 1.5 crore investible deposits at hand every year in ETFs. It has invested around Rs 50,000 crore in ETFs so far. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
EPFO FundsEPFO
Written By: PTI
Updated: Thu, Feb 21, 2019
06:06 am
New Delhi, PTI
RELATED NEWS
Bluechip PSUs eye EPFO funds Bluechip PSUs eye EPFO funds

LATEST NEWS

DGCA seeks reply from IndiGo as around 56% of airlines flights delayed on Saturday

Corporate Watch: JSW Steel, Titan, Torrent Pharma, Mindtree, Mphasis among 20 stocks that will remain in focus on dividend, bonus announcements this week

Delhi government monsoon session commences today; salary hike of ministers, MLAs on the cards

Twitter Blue users on Android can now customise navigation bar

Buy, Sell or Hold: What should investors do with Manappuram Finance, ONGC and MHRIL?

Xiaomi 12S series, Xiaomi Band 7 Pro launch today at 4 PM - Know expected price, LIVE streaming details and more

Global View: L&T, JSW Steel, Hindalco, and IndusInd Bank shares can give 30-61% return – Here is why

Stocks to buy today: Sigachi Industries, Sun Pharma, NFL and Federal Bank among list of 20 stocks for profitable trade on July 4

Zomato-Blinkit Deal: Food aggregator firm accused of not sharing information about deal on time; Investors file complaint with SEBI | Details

Windfall tax impact likely to continue on oil refining firms, says Anil Singhvi; believes RIL may see revenue, profit contraction

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV