The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
Retirement fund body EPFO on Monday is likely to retain 8.5 per cent interest on PF deposits for its over 5 crore subscribers in 2013-14.
The EPFO is likely to decide soon the rate of interest on PF deposits for 2013-14, which is expected to be over 8.5 per cent.
The government has approved payment of 8.75 per cent rate of interest on PF deposits in 2013-14 for over five crore subscribers of retirement fund body EPFO.
Woodbridge, the Thomson family holding company which controls about 70 per cent of Thomson, has also committed to vote in favour of the deal, the statement said.
After a three-hour meeting of the Central Board of Trustees of the EPF, CITU general secretary Tapan Sen said that the meeting decided to continue with 8.5 per cent for 2007-08, ignoring the demands by trade unions to hike the interest rate to 9.5 per cent.
An advisory body of EPFO has rejected a proposal to engage private banks -- ICICI, Axis and HDFC Bank -- for collection of PF contribution from employers.
Five Indian-Americans have been named among the 400 richest people in the US by Forbes, a list topped by Microsoft co-founder Bill Gates for the 21st year in a row with a net worth of $81 billion.
Employees Provident Fund Organisation fails to arrive at a decision on interest rate.
With regards to NFOs, we have a clear action plan for investors -- avoid NFOs, instead opt for well-managed, existing funds from that category (of the NFO) with well-established track records over the long-term, especially during a market downturn.
Retirement fund manager EPFO has decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
Finance Minister Pranab Mukherjee will soon give the green signal to the payment of 9.5 per cent interest rate on provident fund deposits during 2010-11, a senior government official said on Tuesday.
Ussue will be raised at the meeting of the Central Board of Trustees of the Employees Provident Fund Organisation on Tuesday.
Listed entities would have to co-operate with intermediaries registered with Sebi such as debenture trustees and credit rating agencies
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
Often criticised for offering less attractive interest rates than banks for most of the last five years, retirement fund manager EPFO hiked the annual rate of returns on employee provident funds to 9.5 per cent in 2010 and this time around, the banks were left behind.
The EPFO Board will for the third time meet in New Delhi on Tuesday to decide on the interest to be offered to its three crore subscribers this year, even as trade unions' demand higher returns.
The EPF Board on Saturday failed to clinch the contentious issue of interest rate for the current fiscal for its four crore subscribers and rejected finance ministry's proposal to invest 5 per cent of the EPF money in the equity market.
Union Minister Ramvilas Paswan on Thursday criticised the decision taken by authorities at the Somnath temple in Gujarat to restrict entry of non-Hindus inside, sans permission, and stated that the Central government has never supported any discrimination on the basis of religion.
The finance ministry wants the Employees' Provident Fund Organisation to bypass the central board of trustees when deciding how to invest a portion of the Rs 5-lakh crore (Rs 5 trillion) provident fund corpus in the capital market.
Without giving specific details, Sebi said that SBI was being probed for 'alleged violation of regulations' contained in as many as 11 sections, sub-sections and clauses, including those related to the Code of Conduct, of the Securities and Exchange Board of India (Debenture Trustees) Regulations.
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
Joshi is being recognised for 'his vision and leadership in bringing professionalism to the NGO movement in India, by effectively combining 'head' and 'heart' in the transformative development of rural communities', the Board of Trustees of the Ramon Magsaysay Award Foundation said in a press statement from its headquarters in Manila.
The EPF board will meet on Wednesday to take a firm view on the interest rate for its 4 crore (40 million) subscribers during 2005-06, even as trade unions are demanding Prime Minister's intervention to retain 9.5 per cent.
According to the EPFO estimates, there would be a surplus of Rs 151.67 crore after providing 8.65 per cent rate of interest for 2018-19 on EPF.
The EPFO on Friday deferred a decision on interest rate on provident fund deposits for 2010-11 following pressure from trade unions that want rates to be raised to 9.5-10.5 per cent from 8.5 per cent.
A lot of my decisions are based on idealism, says N R Narayana Murthy
The Employees Provident Fund Board on Saturday recommended a 9.5 per cent interest rate for its around four crore (40 million) subscribers for 2004-05.
Six establishments -- including Tata Motors -- have been selected as the best employers by the Central Board of Trustees of Employees Provident Fund Organisation.
This was decided at a four-hour meeting of the Central Board of Trustees of EPF chaired by Labour Minister K Chandrashekhar Rao.
Come January 2009, Sunder Ramaswamy, Middlebury College dean for faculty development and research and Frederick C Dirks Professor of International Economics, will be the new president of the Monterey Institute of International Studies, California, USA
Following the footsteps of the Central Board of Direct Taxes, the Employees Provident Fund Organisation has entrusted the UTI Investor Services with the job of creating the required infrastructure for issuing its much-bragged social security number.
The Employees Provident Fund Organisation will be seeking approval from its apex decision-making body, the Central Board of Trustees, to implement a finance ministry order to invest up to 15 percent of the fund in equity. The new pattern that was notified last year comes into force from April 2010.
The finance ministry on Friday ratified the interest rate of 9.5 per cent for about 4 crore subscribers of Employees Provident Fund for 2002-03 and 2003-04.
Experts view this as a case of "failed experiment" in succession
The SIT clicked photos and shot videos of the suspected places to examine the nature of the crime again.
Amidst reports of a cut in interest rate on Employees Provident Fund, Labour Minister Sis Ram Ola on Thursday said he will meet Finance Minister P Chidambaram to decide on the returns for the over 32 million subscribers for this year.
The decision to suspend this benefit will hit 32 lakh pensioners.
Prince Charles, accompanied by his wife Camilla, the Duchess of Cornwall, has visited the BAPS Shri Swaminarayan Mandir and a school attached to the temple in London to celebrate Holi.
