Saturday 23 January 2016

PF வட்டிவிகிதம் 7.75% இல் இருந்து 8.95% ஆக உயருகிறது

            DELHI: The Employees Provident Fund Organisation’s (EPFO) finance panel has recommended raising the interest rate on statutory savings of over 5 crore subscribers from 8.75% to 8.95% during the current fiscal.

                The proposal has to be endorsed by the central board of trustees before the finance ministry notifies it. If it goes through, it will be the highest return since the 9.5% paid in 2010-11 and the highest ever real interest rate (after netting out inflation) in recent years. An 8.95% rate will translate into returns of nearly 12% for those in the highest slab as the withdrawals and interest earnings do not attract tax at the time of withdrawal.

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