CBT News

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The proposal on this new pension product could come up for discussion in the meeting of Central Board of Trustees. A sub-committee constituted by the CBT on pension related issues in November 2021 would also submit its report. The EPFO had amended the scheme in 2014 to cap monthly pensionable basic wages to Rs 15,000.

The Finance Ministry is believed to have permitted the Labour Ministry to go ahead with 8.65 percent rate of interest on employees' provident fund for 2016-17, which will benefit over four crore EPFO members.

About 4 crore subscribers of EPFO will get 8.65 per cent interest on provident fund deposits for 2016-17, as decided by the organisation's trustees in December, Labour Minister Bandaru Dattatreya said on Thursday.

Retirement fund body EPFO's trustees on Thursday deferred the discussion on the proposal to increase investments in ETFs to 15 percent, from the current 10 percent of investible deposits, in 2017-18.

A new study has showed that reading a good book may not only be captivating but may also help people suffering with chronic pain.

Labour Minister Bandaru Dattatreya on Tuesday said 8.65 percent interest rate on EPF deposits for this fiscal will soon be ratified by the Finance Ministry and there is no difference of opinion on the issue.  

Retirement fund body EPFO will hire a consultant to work out a low-cost housing scheme for its over 4 crore subscribers.

Retirement fund body EPFO will park more funds in public sector bonds to boost government's infrastructure development programmes and continue to invest in equities, Union Labour Minister Bandaru Dattatreya said.

Retirement fund body EPFO's panel on its pension and insurance schemes has approved a proposal to increase the maximum amount assured under the EDLI scheme to Rs 5.5 lakh from Rs 3.6 lakh.

The state-run pension fund's Central Board of Trustees (CBT) would be asked to speed up the investment process, Union Minister of State for Labour Bandaru Dattatreya said here.

Retirement fund body EPFO is likely to appoint fund managers on March 11 for a three year term from April 1 and raise age limit for vesting of pension by two years to 60.

Retirement fund body EPFO is likely to appoint fund managers Thursday for a three year term from April 1 and raise age limit for vesting of pension by two years to 60.

At present, a formal sector worker covered under the EPS-95 can make contributions towards pension scheme till the age of 58 years and can claim pension after that.

Government is proposing to amend Employees Provident Fund & Miscellaneous Provisions Act to enable the Centre to reduce or waive off mandatory provident fund contributions by employees in certain cases.

Retirement fund body Employees Provident Fund Organisation (EPFO) has estimated over 14 percent increase in its incremental deposits this fiscal at Rs 79,377 crore.

Recently, a section of EPFO had favoured investment in the equity of profit-making public sector blue chip companies.

The Finance Ministry is likely to give its concurrence next week to retirement fund body EPFO's trustees' decision to provide 8.75 percent rate of interest on PF deposits to over five crore subscribers this fiscal.

Retirement fund body EPFO's trustees on Tuesday decided to retain interest rate on provident fund at 8.75 percent for the current fiscal (2014-15).