PF Account Holders To Get New Year Gift Soon; 8.5 Per Cent Interest To Be Deposited In Their Account
In the difficult times of the Corona epidemic and lockdown, the Employees Provident Fund Organization (EPFO) helped its 6 crore account holders a lot. Now the government is preparing to give a New Year gift to these account holders.
According to the information, the Labour Ministry has sent a proposal to the Finance Ministry to deposit the interest amount of PF for the financial year 2019-20 at a rate of 8.5 percent in one go to the EPF account.
It is believed that the Finance Ministry can take a decision on this at any time and in this way, this amount of interest will be deposited in the accounts this month. That is, the balance in EPF accounts of 6 crore workers is going to increase.
Let me tell you, earlier in September, after a meeting chaired by Labour Minister Santosh Gangwar, there was news that EPFO will pay interest in two installments. The first installment will be 8.15 percent, while the remaining 0.35 percent interest will be deposited in the second installment. However, the good thing is that now this amount will be deposited together. Earlier, in a meeting of the Central Board of Trustees (CBT) held in the month of March, the apex decision making body of EPFO, the 8.5 percent interest rate on EPF was approved for 2019-20.
Now the Finance Ministry’s approval on the proposal of the Ministry of Labor is awaited. Immediately funds will start accumulating in the accounts.
It is also very easy to find out whether the amount has been deposited or not. One can find out the total amount deposited in the account by giving a missed call on 011-22901406 from his mobile number registered with EPFO. Calling this number automatically disconnects the call after two bells. There will be no money for this service. For more information visit this link https://unifiedportal-mem.epfindia.gov.in/memberinterface.
(Source: naidunia.com)
Ms Kalinga
Yeahh…! We have heard this shit from since last Diwali…..now it’s new year gift….!
Just tell us one thing that how many times you guys make full of us?
This is not a gift. This is due since Apr 2020
Why such a hue & cry for just crediting the interest which was due on first April 2020, it is already 9 months pending. It is not at all a favor EPF trust is doing to the crores of subscribers it is their right which should have been given 9 month back.
Hearing past 3 months interest will be credited for of of 2018-2019, banks credit within a quarter but government takes it to next level. Incompetence or what?
Stop calling it as a gift you morons. It is the right of the subscriber which is supposed to be credited at proper time. Why do they delay the interest payment every year ? EPF is one of the worst department which does not know to make proper use of technology to keep the accounts updated and is still manually performing reconciliation. The system is made such that the money is deducted from your salary at right time but there is no accountability on interest repayment.
This is employees rights to get. You are not doing fresh
Kabhi Diwali se pahle kabhi new year se pahle lekin aayega kab?
GIFT?
Improve your journalism. It is being credited late and nothing new about it. Instead you should have highlighted why every year interest get credited late. Ideally it should get credited in April
Hey buddy, next time when you get your salary from your boss after 9 months , don’t call it a gift from your organization!
Is it really a gift?. How?. They are just giving interest for emp money. This news has been hearing since long time. The god only knows when will be credited:-(
More the merrier.
Before 2014 the PF interest was being credited latest by Jul-Aug. Ever since, it is being delayed to credit interest by Feb-Mar of the following year. Now you boast it as a ‘gift’ by ‘announcing’ to credit it by Diwali…No…And then…by New Year.
Wah Modiji Wah!!!
why govt is not giving interest on interest of this delayed payment. govt is doing cheating with pf subscribers by paying interest of that delayed credited interest.
not paying interest of this delayed credited interest
This is not a gift for PF holders. Your depositing the interest for PF holders, try to give a loan for PF holders without interest it is a gift for ordinary persons.
Lol.. Gift
Govt grabbing money on petrol too much and saying these are all gifts.
Not only in PF darama baziin sectors….achhedin
It is hard-earned money by crores of devastated people for which interest is due since April20 and neither the trustees nor Government are able to decide to make payment of interest..Every Govt does the same thing.We r so unfortunate…….
These idiots saying it is gift. It should be get credited in the month of April. That time there is no such cash crunch and peoples started withdrawing money from May June only. They have make the Corona excuse that time. Last year when there is no such situation, that time also they credited in the month of September. Now also they are saying December but still it’s not confirmed by labor and Finance ministry. They might give new date of 26 Jan now, then Holi. We never know. Should some protest should happen if they not give this month.
Wow ,Can someone explain how it is gift. For 2019-2020 interest should be credited by March end. I do not know how government is playing with account books.
After some tine they will say 26 Jan, then they will say Holi. After then they will say it will come in one shot for both 2019-2020 and 2020-2021 until there is a big protest.
Few months back, it was referred to as Rakhi Gift, then Dusshera Bonanza, then Diwali Tohfa, then Christmas Santa Gift, now saying New Year Gift. If you have no news or information, why don’t you people sit calm, instead of misguiding entire public.