7th PAY COMMISSION NEWS - CENTRAL GOVERNMENT EMPLOYEES NEWS

General Provident Fund Interest Rate during the year 2014-15 - Finmin Orders PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA) F.NO. 5(1)-B(PD)/2014 Government of India Ministry of Finance (Department of Economic Affairs) New Delhi, the 4th March, 2014 RESOLUTION It is announced for general information that during the year 2014-2015, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.7% (Eight point seven per cent) per annum. This rate will be in force during the financial year beginning on 1.4.2014. The funds concerned are:—

NFIR National Federation of Indian Railwaymen No.I/3/Pt.I Dated: 25/10/2013 The Secretary (E), Railway Board, NEW DELHI Dear Sir, Sub: Simplification of rules/procedure on withdrawals from Provident Fund by Railway employees-reg. Ref: (i) Railway Board's letter No. F(E)/III 77 PFI/3 dated 27/5/1977. (ii) Rule 925 read with sub rule (3) (a) of RI. Difficulties are being faced by Railway employees while withdrawing money from the their Provident Fund as the authorities have been insisting on submission of various uncalled for/unwarranted affidavits/documents with result the payments are delayed causing deep sense of frustration among employees. 2. In this connection N FIR desires to convey that provision exists under Rule 925 read with sub rule (3) (a) of Indian Railway Establishment Code Vol-I (Reprint Edition, 1995) as below:- "Marriage expenses-- Withdrawals may be permitted for meeting expense subject to the following terms and conditions:- (a) meeting the expenditure ...

8.5 per cent on PF deposits expected, EPFO board meeting likely on October 4: Financial Express The reconstituted EPFO's Central Board of Trustees (CBT), which has to take a call on interest rate on PF deposits for the current fiscal, is likely to hold its first meeting on October 4. The meeting of the CBT headed by the Labour Minister is likely to be called on October 4 for reconstituting EPFO's sub-panels like its advisory body Finance and Investment Committee (FIC), an Employees' Provident Fund Organisation's (EPFO) official said. As per the practice, FIC vets financial proposals of EPFO and puts those before the CBT for a final call. The committee is supposed to vet and put forward the proposal for providing a rate of interest on PF deposits every year. EPFO could not announce the interest rate on PF deposits for the current fiscal as the FIC is yet to be constituted after the CBT was reconstituted in June. The sub-panels like FIC were dissolved after CBT was f...