Interest Rate on EPF :- The rate of interest on Employees Provident Fund Accounts for the year 2010-11 is to be based on the income receivable on the corpus during the year and it is likely to be declared by the Central Board of Trustees, Employees’ Provident Fund [CBT(EPF)] in its next meeting scheduled to be held on 04.09.2010.
The Minister of State for Labour and Employment Shri Harish Rawat gave this information in reply to a question in the Rajya Sabha today.
Increase in Pension to Industrial Workers under EPS-1995:- It is true that the minimum pension granted under the Employees’ Pension Scheme to industrial workers after the year 2000 has not been increased. This has not been possible as the annual valuation of Employees’ Pension Fund has revealed actuarial deficit after 01.04.2000.
The Central Government has constituted an Expert Committee on the Employees’ Pension Scheme, 1995. The issue of increase in minimum pension alongwith other issues was placed before this Committee for examination and consideration. The Committee has since submitted its report on 5th August, 2010 which will be examined by the Government.
The Minister of State for Labour and Employment Shri Harish Rawat gave this information in reply to a question in the Rajya Sabha today.
