This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
The plea filed by the father of the Pradhyumn's father Barun Chandra Thakur, sought cancellation of their interim bail granted by the high court on October 7.
EPFO manages a corpus of over Rs 8.5 lakh crore and its subscribers' base is over five crore at present.
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
The bill to amend payment of gratuity Act in order to double the ceiling of tax-free gratuity to Rs 20 lakh, would soon be placed before the Union Cabinet for approval.
Retirement fund body EPFO on Thursday lowered the interest rate on Provident Fund deposits to 8.5 per cent for the current financial year, Labour Minister Santosh Gangwar said on Thursday.
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.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
The mosque is coming up in the Uttar Pradesh district pursuant to the Supreme Court verdict in the Ram Janmabhoomi case.
A notification issued by the railway board in the evening said new fares would come into effect from May 5.
The members include senior lawyer K Parasaran, Jagatguru Shankracharya, Jyothishpeethadheeshwar Swami Vasudevanand Saraswati Ji Maharaj from Allahabad, Jagatguru Madhavacharya Swami Vishwa Prasannatheerth Ji Maharaj, Pejawar Math in Udupi, Yugpurush Paramanand Ji Maharaj from Haridwar, Swami Govinddev Giri Ji Maharaj from Pune and Vimlendra Mohan Pratap Mishra from Ayodhya.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
The meeting has been called as the Finance Minister P Chidambaram did not extend a March 31 deadline for the trusts to get regular tax exemption through the Employees' Provident Fund Organisation.
Retirement fund body EPFO has retained 8.5 per cent interest rate on employees' provident fund (EPF) for 2019-20 for its over six crore members as decided earlier, and also began crediting the same into their accounts on Thursday. A large number of the members of the Employees' Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent interest for 2019-20, from Friday, a senior official told PTI. The official further said the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO, and the body has already started crediting interest into the members' account for the last financial year.
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 affidavit was filed in response to a petition seeking a direction to declare the PM CARES Fund a 'State' under the Constitution to ensure transparency in its functioning.
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.
It is not much of an issue just now, but it could become one if the idea of caste census captures socio-political imagination, going beyond electoral tags and identities, says N Sathiya Moorthy.
The decision to suspend this benefit will hit 32 lakh pensioners.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
There has been demand to hike the PF interest rate to 8.90 per cent.
Justice GR Swaminathan of the HC bench in Madurai noted that Tamil Nadu was a land of temples where the shrines have played a central role in our culture.
Religious scholar Hazrat Moin Miyan said though the option of filing a review petition is open, they are accepting the verdict for the betterment of the society.
Some unions have opposed EPFO investing in share markets.
EPFO had started investing ETFs in August last year.
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EPFO had paid 8.5 per cent interest rate to subscribers in 2012-13, which was higher than 8.25 provided in the 2011-12 fiscal.
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.
At present, the EPF subscribers are exempted from paying income tax on deposits.
The Finance Audit and Investment committee recommended 8.95% interest.
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
EPFO fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 550,000 from the existing Rs 360,000.
The UPA government's decision to ensure a minimum pension of Rs 1,000 a month under the retirement fund body EPFO's scheme, which will immediately benefit 28 lakh pensioners, is going to be a reality soon.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
The 15% invested every month in equity would be allotted to subscribers in the form of units.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
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