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EPFO's accounting needs transparency jab

The EPFO is larger than four of the largest mutual funds put together, yet it has opaque accounting practices with no portfolio disclosure even at year-end

Topics
EPFO | Tax Saving | Government securities

Harsh Roongta 



Harsh Roongta

The Employees’ Provident Fund Organisation’s (EPFO) trustees announced 8.5 per cent interest for 2020-21, well after more than 10 months had passed in the financial year. This rate, tax-free to boot, sounds too good to be true and stands in sharp contrast to the interest rate on long-term (G-Secs) being at a record low during the year.

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First Published: Sun, March 14 2021. 22:32 IST

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