Good news: Private EPF trusts can't have interest rate lower than EPFO

The ministry of labour has said that strict action will be taken against repeated defaulters

The Ministry of Labour has directed around 1,500 private employee provident fund trusts to ensure that the rate of interest declared by them is on a par with or higher than that declared by the Employees Provident Fund Office (EPFO). Employee provident fund trusts are set up by companies for the administration of employee provident funds (EPFs). The direction comes after the ministry noted that some private EPF trusts were not able to declare the rate of interest at par with EPFO.

The circular also stated that there will be periodic evaluation and monthly ranking of companies which have set