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INDIA'S CBT DEFERS DECISION ON EPF RATE.
NEW DELHI, July 1 Asia Pulse - The Central Board of Trustees deferred the decision on the interest rate for 30 million subscribers of employees provident fund (EPF).
The next meeting of CBT, chaired by federal Labour Minister Sis Ram Ola, will be held on July 13 after the presentation of the Federal Budget on July 8.
The present interest rate on EPF is 9.5 per cent. The major trade unions have demanded an increase in interest rate to 12 per cent.
Prior to today's meeting there were expectations that the rates could be retained at the present level of 9.5 per cent taking into consideration the rising inflation and pressure from the left affiliated trade unions.
The decision was deferred mainly due to opposition from some trade unions like Left parties backed ...
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Source: HighBeam Research, INDIA'S CBT DEFERS DECISION ON EPF RATE.