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.
New Delhi, May 25 (IANS) Finance Minister Arun Jaitley on Monday asked the Income Tax department to squeeze the parallel economy, also called black economy, in a fair manner without being harsh. "The parallel economy has to be squeezed and this has to be done in a very fair manner, not in a harsh manner. In doing so, as senior officers you have to maintain the highest standard of integrity," Jaitley said, addressing the annual conference of senior officials of the Central Board of Direct …