New Delhi, Jan 13, 2014
The Employees Provident Fund Organisation decided to increase the interest rate on Provident Fund deposits for 2013-14 to 8.75%.
This is an improvement of 0.25% over the 8.5% interest rate paid last year.
The announcement made by labour minister Oscar Fernandes after a meeting on Monday will benefit close to eight crore subscribers.
EPFO fixes the rate based on the interest earned on its investment and its expenses.
Are you one of the subscribers of the EPFO? Then check your accounts online on a real-time basis by clicking here.
Asian shares slipped for a seventh straight session on Thursday as mixed economic data did nothing to assuage concerns about global growth, keeping sovereign bonds well supported as a hedge against deflation risks. The patchy outcomes left Shanghai stocks down 0.2 percent while trade across the region was stifled by a holiday in Japan. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 percent, and has now shed 5 percent in just two weeks. …