In 2015, EPFO brought some shares which the government is planning to sell for the additional 0.15 percent payout.
The government led by Prime Minister Narendra Modi may give a reason to PF subscribers to celebrate. According to a report in the Indian Express, the Centre is likely to keep interest rate on Provident Fund unchanged.
Currently,the PF interest rate is 8.65 per cent.The central government will dip into the shares held by Employees Provident Fund Organisation (EPFO) for the extra 0.15 percent payout, the report stated.
In 2015, EPFO brought some shares which the government is planning to sell for the additional 0.15 percent payout, the newspaper report mentioned.
Sources told Indian Express that shares worth Rs 2000 cr would be sold by the EFPO.
meanwhile, earlier this month, EPFO had said that it will be able to eliminate multiple account numbers of an individual once the process of seeding Aadhaar is complete.
"Aadhaar seeding and bank account linking will help do away with multiple provident fund accounts, once merger of accounts happens with the help of Aadhaar seeding," Additional Central PF Commissioner S B Sinha told PTI. He said bank account linking will help members to remotely manage accounts and for claim settlements. Speaking on the sidelines of a seminar on provident fund organised by ICC, Regional PF Commissioner Navendu Rai said there were 26 lakh regular contributing members in West Bengal at present, but the number of PF accounts issued from the state was about 70 lakhs.
"On an average, one person has three PF accounts (in West Bengal) due to change in employment," he said.Since, July 1, 2017, Universal Account No (UAN) generation requires mandatory Aadhaar seeding, bank details and mobile number. Sinha said for old account holders, seeding is being carried out. He said online submission of claims and settlements was possible in case of Aadhaar-seeded UAN holders.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Good news! Govt likely to keep PF interest rates unchanged")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}