EPF

  • EPF interest rate to be raised to 8.6 pc April 26, 2012

    New Delhi: Interest rate on employees' provident fund will be increased to 8.6 per cent for the current fiscal, a move which will benefit around five crore subscribers. "The rates were brought down due to lower income (on investment in Special Deposit Schemes)...There is no question of minimum or maximum interest...
  • Govt to cut EPF rate from 9.5 pc to 8.25 pc March 15, 2012

    New Delhi: Government on Thursday slashed interest rate on deposits in Employees Provident Fund from 9.5 per cent to 8.25 per cent for 2011-12 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees' Provident...
  • Multi-crore scam: Mumbai builders in CBI net April 9, 2008

    Mumbai: A plush building in the middle of Mumbai's upmarket Powai area was at the centre of hectic action on Tuesday as the Central Bureau of Investigation (CBI) raided Hiranandani towers, which is the main office of construction major Hiranandani on charges of evading employees provident fund amounting to Rs...
  • How Hiranandanis built skyline, bank balance | The scam April 9, 2008

    Mumbai: The Hiranandanis, Mumbai's leading private builders against whom searches were conducted Tuesday for a Rs 168 cr provident fund fraud, built lavish townships for the rich and famous in the city. They launched a prestigious construction project in Dubai and last month announced a mega special economic zone outside...
  • CBI raids real estate giant Hiranandani for tax evasion April 8, 2008

    Mumbai: The Central Bureau of Investigation (CBI) has conducted raids for tax evasion on one of the largest construction groups in the country - Hiranandani Constructions. Raids were carried out across Mumbai including the Hiranandani Constructions premises in the Mumbai suburb of Powai. The raids were conducted on five companies of the...
  • Provident fund rate for 2007-08 remains at 8.5 pc January 24, 2008

    New Delhi: The Employee's Provident Fund (EPF) board on Thursday decided to retain the interest rate to the Employee's Provident Fund for the fiscal year 2007-08 at 8.5 per cent. After a three-hour meeting of the Central Board of Trustees of the EPF, CITU General Secretary Tapan Sen said that the...
  • Interest rates on EPF will rise to 8.5 per cent July 23, 2007

    New Delhi: Bowing to pressure from Left-backed trade unions, the Employees Provident Fund Board has agreed to continue paying 8.5 per cent interest rate to its nearly four crore subscribers for fiscal 2006-07. The Board will submit its recommendations to the Finance Ministry, which is expected to notify the rate shortly. The...
  • Interest rate: EPF Board defers decision June 20, 2007

    New Delhi: The EPF Board, which met on Saturday to decide on interest rate, once again deferred its decision on the contentious issue. The decision has been deferred till the next meeting to facilitate more consultations between the Labour and Finance ministries. The meeting was told by Labour Minister Oscar Fernandes, who...
  • EPF Board meeting on March 10 March 3, 2007

    New Delhi: A fresh meeting of Employees Provident Fund (EPF) Board has been convened on March 10 to thrash out the vexed issue of interest rate for the current fiscal. At its last meeting, the Central Board of Trustees of the EPF had rejected Finance Ministry's proposal to invest 5 per...
  • Decision on EPF interest rate deferred November 7, 2006

    New Delhi: The Employees Provident Fund Organisation on Tuesday put off a decision on fixing interest rates to be given to its four crore subscribers in 2006-07 for next month as it is yet to calculate the surplus funds available. The Central Board of Trustees (CBT) of EPFO, which met...