New Delhi: Retirement body employee provident fund organisation (EPFO) on Tuesday fixed 8.15 per cent interest rate on the employees’ provident fund for 2022-23.
The decision was taken by EPFO’s board of trustees.
Last year, EPFO had declared 8.1 per cent as the rate of interest for 2021-22, which was the lowest in 40 years.
The last time the interest rate had slipped to 8 per cent was in 1977-78.
Subsequent to the CBT decision, the interest rate on EPF deposits for 2022-23 will be sent for the finance ministry’s approval.
In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent provided for 2018-19.
IANS
Lok Sabha approves Rs 48.21 lakh crore Union Budget 2024-25
New Delhi: The Lok Sabha on Tuesday approved the Rs 48.21 lakh crore Union Budget for 2024-25 aimed at giving a major push to job creation with a focus on...
Asian markets tank over US recession fears, Indian indices fare better
New Delhi: A disappointing job scenario in the US coupled with the fear of a reverse Yen carry trade, following an interest rate hike in Japan, led Asian markets to...
RBI leaves repo rate unchanged to ensure price stability with growth
Mumbai: The RBI on Thursday kept the key policy repo rate unchanged at 6.5 per cent for a ninth consecutive meeting as it continued to maintain a balance between accelerating...
Going global: UAE merchants accept Rupee via UPI to attract Indian customers
New Delhi: The government of India has been promoting UPI as a global payment platform. Now merchants in the United Arab Emirates (UAE) are accepting payments via UPI in Rupees...
Zomato launches operations in 25 new Indian cities
Zomato launches operations in 25 new Indian cities New Delhi, June 27 (IANS) Food ordering app Zomato on Wednesday said it has launched its restaurant reviews and ratings platform across...
China expected to become largest 5G market by 2025: Report
Shanghai, June 29 (IANS) China is expected to become the world's largest 5G market by 2025, accounting for 430 million 5G connections, or one-third of the global total, according to...
BSE to delist over 220 firms from Wednesday
Mumbai, July 3 (IANS) Stock exchange major BSE will delist over 220 firms from its platform from Wednesday. According to the BSE, stocks of 210 companies that have remained suspended...
RIL launches JioGigaFiber, rolls out plans for hybrid online-offline retail model
RIL launches JioGigaFiber, rolls out plans for hybrid online-offline retail model Mumbai, July 5 (IANS) Riding high on Jio tide, Reliance Industries (RIL) Chairman and Managing Director Mukesh D. Ambani...
India’s domestic air passenger traffic grows due to network expansion: IATA
New Delhi, July 5 (IANS) Strong growth in network expansion led to double-digit growth in India's domestic air passenger traffic for the 45th consecutive month in May, even as the...
Samsung India puts Noida on top with world’s largest mobile factory
By Nishant Arora July 8, 2018 Noida, July 8 (IANS) In front are open fields with grazing cattle, to the left are under-construction residential societies and to the right is...
Business & Technology: Apple launches MacBook Pro with latest chips, quieter keyboard
July 12, 2018 San Francisco, July 12 (IANS) Apple on Thursday announced new 13-inch and 15-inch MacBook Pro which are faster than ever, can compile code faster and run multiple...
Samsung refrigerator with Bixby control, touchscreen now in India
July 18, 2018 Gurugram: Revolutionising the Indian refrigerator industry, Samsung Electronics on Wednesday unveiled its Internet of Things (IoT)-enabled refrigerator "Family Hub 3.0" in India for Rs 280,000. The 810-litre...
