February 17, 2016 - India ITR

EPF interest rate hiked to 8.80% from 8.75%

Employees Provident Fund (EPF), Investment and SavingsBy Himanshi February 17, 2016

he Employees’ Provident Fund Organisation (EPFO) on Tuesday announced a higher interest rate of 8.8 per cent for this fiscal (2015-16), marginally up from 8.75 per cent in the previous fiscal (2014-15). Nearly 5 crore subscribers regularly contribute to the retirement fund. Union Labour Minister Bandaru Dattatreya said the hike is an ‘interim one’ and…

Interest Rates of Small Saving Schemes to be recalibrated w.e.f. 1.4.2016 on a Quarterly Basis to align the small saving interest rates with the market rates of the relevant Government securities

Investment and Savings, Kivas Vikas Patra (KVP), NSC, Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), Sukanya Samriddhi Account (SSA)By Himanshi February 17, 2016

Interest rate on savings schemes based on laudable Social Development or Social Security Goals including Sukanya Samriddhi Yojana, the Senior Citizen Savings Scheme and the Monthly Income Scheme left untouched by the Government. The National Savings Schemes (NSSs) regulated by the Ministry of Finance offer complete security of investment combined with high attractive returns.…