For the year 2010-2011 the EPF organisation had declared 9.5% interest which was the long pending demands of the Central Trade Unions. While the Labour Ministry agreed for 9.5% the Finance Ministry objected the same. However it was finally decided for 9.5%. The Finance Ministry was opposing that there is no sufficient surplus with the EPFO for giving 9-5% and an audit was conducted to find out the real position. It has turned out from the audit now that there are more surplus than anticipated when the 9.5% interest was declared.
As such, the EPFO and the Government should decide and declare 9.5% interest for 2011-2012 also without any further delay.
Will EPF Accountees get 9.5% interest this year ?
23 Thursday Jun 2011
Posted in News