The interest rate will be officially notified in the government gazette after the Finance Ministry's approval. After this, the EPFO will credit the interest into the subscribers' accounts.
Most of the salaried employees love EPF due to tax-free and secure returns, ease of investing and withdrawal benefits. But there is a way to increase the contribution towards EPF and voluntarily contribute more towards the retirement corpus. So, should one opt for VPF? Watch the video to find out.
The retirement fund body's fund managers will select ten liquid mutual funds with ratings of AA+ or better. The investment tenure in liquid MFs is going to be 30 days.
Putting aside a Finance Ministry suggestion, the Labour and Employment Ministry today said it favours partial withdrawal from employees provident fund (EPF) account by subscribers.