Calling the opposition claims on rising unemployment a “political gimmick”, Prime Minister Narendra Modi said that over 70 lakh jobs were created in the formal sector alone in the last one year. Based on Employees Provident Fund Organisation (EPFO) data, more than 45 lakh formal jobs were created between September 2017 to April 2018, Modi[Read More…]
Tag: EPFO
EPFO cuts interest rate to 8.55% for 2017-18 from 8.65%
In a blow to government employees, the Employees Provident Fund Organisation (EPFO) on Wednesday decided to lower the interest rate on provident fund deposits to 8.55 per cent from the existing 8.65 per cent. The rate cut decision for the fiscal 2017-18 was taken at the meeting of the Central[Read More…]
EPFO proposes to adopt centralised payment system to ease transactions
New Delhi: The Central Board of Employees Provident Fund Organisation (EPFO) on Friday “proposed to move” towards the centralised payment system using National Payments Corporation of India platform due to higher cost involved in the current payment mode, non-Aadhaar enabled payments and delays in re-credits. “Present decentralised system of EPFO[Read More…]