This is the lowest interest rate since 1977-78 on deposits. Interest rate on employees provident fund at that time was 8%
Year-on-year comparison shows an increase of around 10.22 per cent in net payroll additions in October 2021
Total outstanding bonds are estimated to be around Rs 15,000 crore
Only a monthly contribution of Rs 500 may be required to join back
For establishments having more than 1,000 workers, the reimbursement is restricted to 12% of the employees' contribution
The interest rate of different types of provident funds range between 7.1% and 8.5%.
The (EPFO) will credit the interest amount to almost 60 million beneficiary accounts once the approval is officially communicated to the fund body.
April saw addition of 8,39,215 only which further plunged to 5,99,769 in May; numbers picked up in subsequent months
A taxable portion in which contributions above Rs 2.5 lakh will be accounted for and the interest earned thereon will be taxed.
As updation of employees record is a continuous process and gets updated in subsequent months, the data is provisional
