Is PF interest rates are declared by indian government ? Someone told me to keep the PF withdrawl on hold till the PF rates are declared else, I have to claim the intereste again after withdrawal of PF amount.
2007-01-18 19:10:19 · 4 answers · asked by James Bond 1 in Business & Finance ➔ Taxes ➔ India
For an Indian working in India and saves in P.F. the rate is declaired by the Finance Minister of India when he presents the annual budget for the next year, usually in the month of Feb. But seruly before 31st March.
The current rate of interest is applicable fron the time the bill is passed.
2007-01-19 19:52:50 · answer #1 · answered by Anuj P1952 3 · 0⤊ 0⤋
The Pf interest rates are declared by the Employees Provident Fund Organisation(EPFO).
This is the statutory(legal) Body which receives all the money deposited by the people and invests the same. The interest rates are decided by the Board Of Trustees of The EPFO. The Finance Minister is also the member of the Board Of Trustees. The rates are decided by the Board for every year. The FM have a major in this decision.
For more contact me at agarwalapurav@yahoo.co.in
2007-01-20 04:17:57 · answer #2 · answered by apurav a 3 · 0⤊ 0⤋
PF interest will be added to your account every year as per the previling rate of interest for that year. If the Govt. declares any change in interest rate, then that interest rate will be applicable for the next year only.
2007-01-20 04:55:03 · answer #3 · answered by kittu k 1 · 0⤊ 0⤋
yes..................
2007-01-19 07:27:22 · answer #4 · answered by yap 3 · 0⤊ 0⤋