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
In May, EPFO received deposits of Rs 6,500 crores (Rs 65 billion) which, is 200 crores more than what was received in April this year.
The First Information Report registered by the ATS also named Anees Ibrahim, Dawood's younger brother and another fugitive.
AUM had touched a record level of Rs 9.58 lakh crore in August last year.
Sri Lanka's Criminal Investigation Department has arrested the head of the finance division of the Tamil Rehabilitation Organisation, a front organisation for the Liberation Tigers of Tamil Eelam, in Jaffna.He is alleged to have provided millions of rupees to the Tiger rebels for their war efforts. Investigations have claimed that he had provided TRO funds to slain LTTE leader Velupillai Prabhakaran, its political head S Thamil Selvan and several key members.
Labour Minister Santosh Gangwar said, the purpose of labour reforms is to provide a transparent system to suit the changed business environment.
Some unions have opposed EPFO investing in share markets.
Labour Minister Sahib Singh Verma on Tuesday expressed confidence that the 9.5 per cent EPF interest rate could be maintained next year, in spite of the falling interest rates.
Agreeing to a partial rollover of the interest rate, the Central Board of Trustees of the EPFO on Friday asked the IFCI to pay 10 per cent on bonds issued by it for the next 10 years, starting from this fiscal.
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.
The Supreme Court on Wednesday rapped the Haryana and Punjab governments over non-prosecution of violators found guilty of stubble burning and summoned the state chief secretaries to appear before it on October 23 and submit. an explanation.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Will the EPFO be required to deduct tax at source or will the employee have to calculate the tax and pay it separately?
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
'Historically, there hasn't been much representation around para-athletes from a brand perspective.' 'With their best medal tally in Paris, it has triggered considerable organic interest.'
The Employees' Provident Fund Organisation's apex decision making body, the Central Board of Trustees, had decided to provide 8.65 per cent rate of interest on EPF deposits last December.
This comes amid a rapid surge in spread of the disease in Eastern Democratic Republic of Congo, and its detection in neighbouring countries as well.
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
According to sources, the proposal is listed in the agenda of the meeting of the Union Cabinet scheduled for Friday.
The return from the ETF investment will be more than the 8.75 per cent the EPFO offers to subscribers now.
Private firms will have to maintain a minimum net addition to their workforce each month from October this year to June 2021 to get the Employees' Provident Fund subsidy for the new recruits.
'I declared myself a Sikh. We want freedom from caste discrimination.'
Inoperative accounts are those accounts where contributions are not made for more than 36 months. The Employees Provident Fund Organisation has stopped crediting interest in these inoperative accounts.
The asset quality of microfinance portfolios worsened in the quarter ending June 2024 due to the impact of heatwaves on borrowers' incomes and collections, coupled with rumours of loan waivers, according to Sa-Dhan. Jiji Mammen, executive director and chief executive officer of Sa-Dhan, said loans with 90+ days past due (dpd) rose to 1.2 per cent in June 2024, compared to 0.9 per cent in June 2023. The 90+ dpd also increased from 1.16 per cent in March 2024.
'As a child, I didn't even know that he was an IPS officer... It was much later when I came back to India'
In view of the proposed one per cent slash in interest rate on special deposit scheme from April, the Central Board of Trustees of Employees Provident Fund Organisation will meet on Friday to decide on the rate of interest on EPF for 2003-04.\n\n\n\n
EPFO has an ambitious plan to settle the claims within few hours after filing of application
The Finance Audit and Investment committee recommended 8.95% interest.
Calculate his monthly expenses, health care spending, how much funds will he need once he retires, and whether his current savings and investments will enable him to manage his lifestyle through retirement, suggests Ashok Kumar E R, CEO and co-founder, Scripbox.
There is a definite attempt to put the landslides on the backburner because news of them and climate change worry Wayanad's tourism and real estate businesses greatly. Whatever I experienced of Wayanad's 2024 by-elections; the July landslides were not a burning issue, observes Shyam G Menon.
The disbursal included Rs 1,000 crore for migrant welfare and over Rs 1,392 crore for procurement of Covid vaccine doses.
A bench headed by Justice L Nageswara Rao directed the state governments to get help from the National AIDS Control Organisation (NACO) and legal services authorities to identify sex workers and maintain confidentiality pertaining to the identity of sex workers.
Around 67.59 jobs were generated in the entire 2018-19 fiscal, the payroll data based on members joining the schemes of the EPFO showed.
The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers.
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
