The interest rate is also to be decided in the EPFO meeting, how much interest will you get this year? It is believed that the current interest rate of 8.5 percent on the amount deposited in EPF can continue. There is little chance of any change in the current interest rate.
New Delhi. Very important news is coming for EPFO subscribers. The Central Board of Trustees of EPFO is going to meet soon. It is reported that the meeting of the Central Board of Employees Provident Fund Organization (EPFO) can be held on 16 November. How much interest you will get on PF interest this year will be decided in this meeting. Many big decisions have to be considered in this meeting. The main agenda of this meeting is also to take a decision on increasing the minimum amount of pension.
The interest rate is also to be decided in the EPFO meeting, how much interest will you get this year? It is believed that the current interest rate of 8.5 percent on the amount deposited in EPF can continue. There is little chance of any change in the current interest rate.
These issues will also be discussed
According to media reports, the central trade unions have demanded an increase in the existing minimum pension from Rs 1,000 to Rs 6,000, while the Central Board of Trustees or CBT may increase it to Rs 3,000. The controversial issue of investing EPFO money in private corporate bonds will also be a topic of discussion in the meeting. Also, a decision can also be taken on the issue of what should be the interest rate of the pension fund for 2021-22. CBT may decide to increase the minimum pension to Rs 3,000. The trade union is demanding to increase it.
Meeting will be held on November 16
This meeting is likely to be held on November 16. The last meeting of the CBT was held in March in Srinagar. The CBT had recommended an interest rate of 8.5 per cent per annum on EPF deposits in the accounts of members for 2020-21. The Finance Ministry has recently approved this proposal.
