Building a Wider
Horizon With Labour
The Ministry of Finance has raised red flags on the sustainability of the 8.65 per cent interest rate for 2016-17 for subscribers of the Employees' Provident Fund Organisation (EPFO). This rate has been given the go-ahead by the Ministry of Labour and Employment. In a missive to the Labour Ministry last week, the Finance Ministry sought clarifications on the 8.65 per cent interest rate, with the main query pertaining to the EPFO's ability to pay this level of interest rate and the payouts to be made in case of inoperative accounts.
