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 YORK/WASHINGTON (Reuters) - A former lawyer with the American Bankers Association is being considered by the White House as a possible nominee to the board of the Federal Reserve, according to sources familiar with the efforts The lawyer's name emerged as the White House weighs candidates with community banking backgrounds to fill gaps on the Federal Reserve's powerful but depleted board, the sources said. People familiar with the White House's process said administration officials may …