EPF Rate May Be Slashed To 8.25% - Important News

Important news : EPF rate may be slashed to 8.25%; single largest rate cut in a decade-Savings News-Savings Centre-Personal Finance-The Economic Times on Mobile
Dont know if it was shared earlier by anyone :)
EPF rate may be slashed to 8.25%; single largest rate cut in a decade-Savings News-Savings Centre-Personal Finance-The Economic Times on Mobile

How exactly will this rate slashing affect employees and employers someone please explain .

Dear All Members,
Refer to the above subject, it is a proposal of the EPFO, the Board of Trustees yet to be decided the interest rate for the Accounting Year 2011 -12.
Regards
V R RAO PULIPAKA.

Hi !!
The Current Interest rate is 9.5 % p.a on employee provident fund.
An EPF is a retirement benefit provided only to the salaried class. Each month, 12% of Basic + DA is deducted from an employee’s salary which is invested in his EPF account. The employer also contributes an equal amount.
There is no other “safe” products which gives 9.5% or anywhere closer to that post tax. Also, the money received from EPF is tax free after five years. Hence, in the long run EPF is the best option to invest your money.
Accounts, which are not operated for the last three years, will not earn interest. So make sure you either withdraw money from your EPF account or maintain the accounts.
Thanks & Best Regards ,
Neha Chauhan
Executive HR
Haridwar

Hi
I would like to know for a start up company how to go about starting a PF
1) Is there any registration process to be taken care of.
2) 12% from both the sides i,e., employer and employee's side is a must and what else need to be taken care of in this regard.
Kindly, post ur replies as earlier as possible.
Thanks and Regards
Shubhra

HIIIIIIII,
Thanx Neha 4 keeping good track.It will be helpfull.
Thanx & Regards,
Mansingh
Asst. Mgr(HR)
BBSR

This is just to update you all with EPF rate of interest for year 2013-2014
EPFO to keep interest rate on PF unchanged at 8.5% in 2013-14
EPFO to keep interest rate on PF unchanged at 8.5% in 2013-14 - The Times of India
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