Central Board of Trustees News

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.

EPFO issued directions to field offices to credit the interest income at 8.5 per cent for 2020-21 into the subscribers' account. EPFO provides the rate of interest only after it is ratified by the government through the finance ministry. In March 2020, EPFO had lowered interest rate on provident fund.

Even if a person changes positions after the relocation to the C-DAC to create the systems, their provident fund number will remain the same. The Central Board of Trustees (CBT), EPFO's ultimate decision-making authority, made this decision at its 229th meeting. The Board voted to allow the Finance Investment & Audit Committee (FIAC) to decide on investment choices on a case-by-case basis for all such asset classes.

Retirement fund body EPFO on Thursday (March 4) decided to retain an 8.5 per cent rate of interest on provident fund deposits There were speculations that the EPFO would lower interest on provident fund deposits EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20

The interest rate on EPF was 8.5 per cent in the financial year 2020, which is the lowest in 7 years. The EPFO Central Board of Trustees (CBT) will meet tomorrow on Thursday (March 4) to decide on the new rates. The Employees' Provident Fund has 6 crore subscribers across the country.

Check out retirement-related schemes of the government which we should first compare with other plans before making any investment.

Retirement fund body EPFO on Wednesday lowered the rate of interest on employees provident fund to 8.55 percent.

Retirement fund body EPFO has decided to invest in corporate bonds in the AA+ investment grade, a notch lower than the earlier norm of AAA, a move that will help it park around Rs 3,000 crore per annum in such securities.

The Central Board of Trustees (CBT) of retirement fund body EPFO on Saturday turned down the proposal to reduce the mandatory contributions from workers and employers to 10 percent.

Buoyed by the surging stock markets, the Employees Provident Fund Organisation (EPFO) may propose to invest up to 15 per cent of its investable amount in equity markets during the next fiscal, Union Labour Minister Bandaru Dattatreya said.

The Employees Provident Fund Organisation (EPFO) is likely to hike the limit for compulsorily maintaining a PF account to Rs 25,000 from the existing Rs 15,000.

Over 4 crore EPFO subscribers may get a lower interest at a rate of 8.6 percent on their PF deposits for current financial year as Labour Ministry is expected to toe the Finance Ministry line to cut the rate.

Seven asset managers -- SBI Mutual Fund, ICICI Prudential, Reliance Capital, HDFC, LIC, UTI and Kotak Mahindra -- are in the race to manage retirement fund body EPFO's investment in stock markets in the current fiscal.

Trade unions on Friday went on a day-long nationwide protest against Finance Ministry's decision to fix 8.7 percent interest rate for provident fund subscribers, lower than 8.8 percent decided by the EPFO.

Retirement fund body EPFO is likely to approve tomorrow a proposal to provide insurance cover to its subscribers for three years after cessation of employment

Retirement fund body EPFO is likely to invest Rs 5,750 crore in stock market funds in the current fiscal, as against the earlier plan of Rs 5,000 crore.

Retirement body EPFO's trustees are likely to consider and approve a proposal to fix rate of interest on PF deposits for over five crore subscribers for the current fiscal in their meeting scheduled on November 24.

EPFO's trustees will consider a proposal to allow its subscribers to pledge their future PF contribution to buy low cost houses, in a meeting scheduled on September 16.

Over 70 percent EPFO subscribers' basic wages are less than Rs 15,000 per month.

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.