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No new amendments in the interest rate on provident fund - EPFO decision on 4 July 2009

The Central Board of Trustees of EPFO has decided not to change interest rate on provident fund for 2009 -2010 . When employee and employee deposit their contribution in provident fund account , then it is the duty of EPFO to pay interest on this PF and CBT has right to change it . 


Yesterday , they organised the meeting in which they decided not to amend any changes in the rates of interest on provident fund .
The economics times commented on this and wrote that the EPFO has no power to pay higher interest rate than 8.5 per cent in this fiscal because EPFO is suffering deficit of aRs 139-crore during 2008-09.
According to view this good decision because first of all EPFO has to reduce this high amount deficit after this they can decide to pay high interest to employees on the contribution . But good news is that still interest rates are not reduced from previous year .

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Accounting Education: No new amendments in the interest rate on provident fund - EPFO decision on 4 July 2009
No new amendments in the interest rate on provident fund - EPFO decision on 4 July 2009
Accounting Education
https://www.svtuition.org/2009/07/no-new-amendments-in-interest-rate-on.html
https://www.svtuition.org/
https://www.svtuition.org/
https://www.svtuition.org/2009/07/no-new-amendments-in-interest-rate-on.html
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