EPFO gave a second gift in a single day after increasing interest rates, 5 crore people will benefit
Launched an e-passbook facility for the subscribers of Employees’ Provident Fund Organization (EPFO). With this, members will be able to view details of their accounts in detail, EPFO said in a statement.
Employees’ Provident Fund Organization (EPFO) has given a big gift to its more than 5 crore shareholders along with increasing the interest rates on Tuesday. Now the employed people contributing to EPFO will be able to get detailed information about their account sitting at home. Union Labor and Employment Minister Bhupendra Yadav on Tuesday launched the e-passbook facility for the subscribers of the Employees’ Provident Fund Organization (EPFO). With this, members will be able to view details of their accounts in detail, EPFO said in a statement.
14.86 lakh shareholders were added in January
As per official data, EPFO added 14.86 lakh subscribers in January this year. Yadav, who is also the chairman of the Central Board of Trustees (CBT), inaugurated crèche centres in 63 regional offices of EPFO. These crèches have been opened in those regional offices which have more than 100 employees. Apart from this, the minister laid the foundation stone for the regional office at Prayagraj in Uttar Pradesh.
EPFO will do physical expansion
The Board of Trustees approved a five-year plan to enhance the physical infrastructure of EPFO. This includes land purchase, building construction and special repairs for Rs 2,200 crore. According to the statement, the Board was apprised of the steps taken to comply with the Supreme Court judgment regarding pension on higher pay.
The interest rate increased to 8.15 per cent
The Employees’ Provident Fund Organization (EPFO) in its meeting on Tuesday decided to marginally increase the interest rate on the Employees‘ Provident Fund (EPF) to 8.15 per cent for 2022-23. EPFO had reduced the interest rate on EPF of its more than six crore subscribers for 2021-22 to a low of more than four decades in March 2022 to 8.10 per cent. This rate was the lowest since 1977-78 when the interest rate on EPF used to be eight per cent. This rate was 8.5 per cent in 2020-21
