Declaration of rate of interest on EPF interest for the year 2010-11. - ALLCGNEWS

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19 March 2011

Home EPF RATES Declaration of rate of interest on EPF interest for the year 2010-11.

Declaration of rate of interest on EPF interest for the year 2010-11.



No.R-11018/1/2010.SS-II
Government of India
Ministry of Labour & Employment
************

Shram Shakti Bhawan, Rafi Marg,
New Delhi, dated the 17th March, 2011.


To

The Central Provident Fund Commissioner,
Employees Provident Fund Organisation,
Bhavishya Nidhi Bhawan,
Bhikaiji Cama Place,
New Delhi

Subject:- Declaration of rate of interest on EPF interest for the year 2010-11.
Sir,

   The undersigned is directed to refer to CPFC’s U0 Note No.Invst.l/3(2)/133/1011/ROI/205 dated 13-10-2010 on the subject mentioned above and to convey the approval of the Central Government under para 60(1) of the Employees’ Provident Funds Scheme, 1952 to crediting of interest @ 9.5% for the year 2010-11 to the account of each member of the Scheme on the condition that the 4.72 crore Member accounts should be updated within a period of six months and if any shortfall in Interest Suspense Account is noticed, then the same should be adjusted in the interest rate to be fixed for the next year (2011-12).

   2. You are, therefore, requested to take necessary action accordingly under intimation to the Ministry.

 
Yours faithfully,
(S.D. Xavier)
Under Secretary to Govt. of India

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