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The EPF interest rate ranged to 8.65% ahead of the 2019 Elections

NEW DELHI: New Delhi: The Employee Procurement Property Group (EPFO), a union labor ministry retirement manager, the legal level of Thursday set up investments for 60 million subscribers to 8.65% for 2018-19, and continued to maximize its resources Low in three years Post-

This is an increase of 10 basic points from the level of 8.55% EPF interest announced by the retirement property for 2017-18. It is also the same as 2016-17 but less than the 8.8% that have paid out in previous years.

One single point point of percentage point is one.

In an election year, the hike is seen to be an EPS level as a logo for its & # 39; middle class class and indicate that central government efforts are to hold major polling poems happily before the start of Lok Sabha elections. May be April-May.

"We have been working for their work class and this waulking speed shows us to respect our religion," said the working minister , Santosh Kumar Gangwar following a meeting of the main board of trustees (CAP) of EPFO.

On January 2, Little EPFO raised EPF interest level for the year ending 31 March 2019.

Over the last few months, the central government has been trying to hit the common person through a variety of sops. Although farmers have benefited from farmer loan investments, the middle class has recently dropped in freight and service tariffs (GST) rates on a number of users' materials, as well as future tax repayments, included in the interim budget.

The CAP is the body making EPPE EPFO ​​decisions, with representatives from staff, employers and the government, and led by the work minister.

Gangwar said that all the enumerators had done a retirement fund and did not do it into default due to the hike rate.

Asked why EPFO ​​went on to travel when she was going to go. It could be governed by the status quo, the minister said that the EPFO's role was to look after the interests of its supporters.

"In the current market, where levels of interest have fallen, the level of 8.65% is a challenge of challenge," said Amarpal Chaddha, a partner (tax) at an EY company.

After paying 8.65% from this trust, more than over EPFO ​​will be left 151 crore-small under the previous levels. In 2017-18, he spent the rest; there 586 crore.

"The best part is that we do not run a deficit, but it would be better to have more than a knee for next year. But you have to see things in co -text, and it's a year of election, "said an EPFO ​​officer, who refused to be named.

Last year, when EPFO ​​declared interest interest 8.55% – there was a low five-year-old Gangwar said the move said, "in 2016-17, after we had an interest rate To pay 8.65%, there were over EPFO ​​of 695 crore and this year (2017-18), having reached a level of 8.55%, the rest 586 crore ", which includes finances under the cause of lower pay.

The pace in EPF interest rate is made one of the prize saving schemes. In 2018, the average shareholding level of Public Procurement Assets and the National Savings Certification 7.7%.

Overall, EPFO's body control overseas 11 trillion. In 2017-18, there were new boundaries 1.31 trillion. In the year to March 2019, the annual investment is covered 1.46 trillion. From the annual investments, the property manager accounts for 15% in equality and the rest in debt instruments, and including government and corporate bonds.

The EPFO ​​level requires a financial ministry agreement.

Although the CAP has called on its interest price, it has put a shelf on a decision on another major issue: a & # 39; travel to the most absent pension in the present day 1,000 gu 2,000.

Find out if EPFO ​​had a & # 39; money loss on Leasingas and Treasury Infrastructure Financial Services (IL & FS), Sunil Barthwal's franchise funding commissioner said he was connected to the financial ministry and "as he is currently, not EPFO has no adverse effect on investment or capital in the IL & FS bands ".

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