New Delhi: Employees' Provident Fund Organisation (EPFO) has certain to offer 8.75 percent awareness on PF deposits for 2013-14, Oscar Fernandes said in a declaration
The EPFO, which is probable to have an proceeds of Rs 20,796.96 crore in the present financial, needs Rs 20,740 crore to pay 8.5 percent curiosity to the subscribers.
EPFO had provided 8.5 percent curiosity in the 2012-13 financial, which was superior than 8.25 announced in 2011-12.
According to estimates, climbing the attention sum by partially a per cent to 9 percent would necessitate an extra quantity of Rs 1,220 crore, which does not look as if realistic.
"Payment of curiosity to the members is outlay for the Trust (EPFO), which is to be met out of its wages. Thus, the rate of awareness should be corresponding with the total income of the conviction," the EPFO has said in its application to the trustees.