Trade unions demand 9% return on PF deposits

Jan 01 2014, 18:07 IST
Comments 0
SummaryEmployee’s Provident Fund Organisation wants to continue with 8.5 per cent.

seems to be flagging once again, with enrollment of members recording its slowest growth in three years.

According to the EPFO’s Annual Report, just about 32.22 crore new subscribers joined the EPFO in the last fiscal, which is a mere 3.77 per cent increase in membership to 887.62 lakh. In 2011-12, new enrollments jumped by 38.86 per cent to 855.40 lakh members.

More worryingly, PF contributions by exempted sectors dipped by 10.33 per cent to Rs 14,458.41 crore in 2012-13 as compared to Rs 16,123.50 crore in 2011-12.

However, total contributions to the EPFO grew at 8.46 per cent to Rs 60,256.80 crore last fiscal with unexempted PF trusts collecting Rs 45,798.39 crore as contributions.

The Annual Report will be cleared by the EPFO’s Central Board of Trustees in its meeting on January 13, before being tabled in the Parliament. Surabhi

Single Page Format
Ads by Google

More from Business

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...