{"id":195468,"date":"2019-02-22T00:00:00","date_gmt":"2019-02-22T00:00:00","guid":{"rendered":"http:\/\/151.106.38.4\/2019\/02\/22\/epfo-hikes-interest-rate-on-pf-deposits-for-2018-19\/"},"modified":"2019-02-22T00:00:00","modified_gmt":"2019-02-22T00:00:00","slug":"epfo-hikes-interest-rate-on-pf-deposits-for-2018-19","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2019\/02\/22\/epfo-hikes-interest-rate-on-pf-deposits-for-2018-19\/","title":{"rendered":"EPFO hikes interest rate  on PF deposits for 2018-19"},"content":{"rendered":"<p><img src=\/old_site\/http:\/\/new.nagalandpost.com\/cms\/gall_content\/no_images_650x.jpg><\/p>\n<p >Retirement fund body EPFO has decided to provide 8.65 per cent interest on PF deposits for 2018-19 against 8.55 per cent in the last year to its 6 crore subscribers, Labour Minister Santosh Gangwar said on Thursday.<\/p>\n<div>Highly placed sources had earlier indicated that the interest on EPF deposits for this fiscal could be more than 8.55 per cent in view of impending general elections.&nbsp;<\/div>\n<div >The move is in line with several populist announcements by the Modi government, including the Budget announcement of income tax relief for the salaried class.&nbsp;<\/div>\n<div >All members of the Central Board of Trustees (CBT) of EPFO at a meeting on Thursday agreed to give a higher interest for subscribers for the current fiscal, the minister said. The proposal would now go to the Finance Ministry for approval, Gangwar said after the CBT meeting.<\/div>\n<div >The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year.<\/div>\n<div >Once approved by the CBT, the proposal requires the concurrence of the Finance Ministry. The interest rate is credited into the subscribers account after the Finance Ministry&rsquo;s approval.<\/div>\n<div >The EPFO had provided a five-year low rate of interest of 8.55 per cent to its subscribers for 2017-18. The body had kept the interest rate at 8.65 per cent in 2016-17 and 8.8 per cent in 2015-16. It provided 8.75 per cent interest for 2013-14 as well as 2014-15. The rate of interest was 8.5 per cent in 2012-13.<\/div>\n<div >&nbsp;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EPFO hikes interest rate  on PF deposits for 2018-19<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-195468","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/195468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=195468"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/195468\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=195468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=195468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=195468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}