NFAEE is the one and only all India Federation of Atomic Energy Worker, recognised by Government of india/Department of Atomic Energy (DAE).

It represents the Industrial, Research & Development and Service organisations under Department of Atomic Energy.

26 Unions and associations of DAE Employees recognised under CCS (RSA) Rule are affiliated with NFAEE

Sunday, August 7, 2011

PARLIAMENTARY COMMITTEE RECOMMENDED HIGHER RATE OF INTEREST ON GPF


Hike rate of return on GPF: Parliamentary panel


New Delhi, Aug 2 (PTI) Wednesday, August 03, 2011

A Parliamentary panel today asked the Central government to increase the rate of return on provident fund for its employees in the light of rising bank rates and EPFO's decision to hike its rate to 9.5 per cent for 2010-11.

"The rate of interest on General Provident Fund (GPF) which is pegged at 8 per cent may be reviewed so that government employees are not put to any disadvantage more so now when the interest rates for bank deposits has also been raised," the Standing Committee on Finance suggested in its report.

If the suggests of the panel finds favour from the government, over 50 lakh Centre's employees will stand to benefit.

The panel headed by former Finance Minister Yashwant Sinha, pointed out that retirement fund body Employees Provident Fund Organiation has also increased rate of interest on PF deposits to 9.5 per cent for 2010-11 from 8 per cent.






Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)