Central Board of Trustees to take a final decision on the matter on Friday
Even latest guidelines allowing usage for EPFO money to buy property is riddled with complications
Stakeholders can also track individual cases online
The higher limit would help EPFO park around Rs 15,000 cr in stock markets in 2017-18
For this, govt has ammended social security schemes of EPFO
Seed Aadhaar account and bank details with EPFO and you can make all applications online
Labour Minister Bandaru Dattatreya urges state govts to provide land for this cause, wherever needed
Physically challenged members can seek advance for purchasing equipment
According to EPFO estimates, the fund will see a surplus after providing 8.65 percent rate
Finance Ministry is said to have approved the 8.65% interest rate on EPF
The government generally ratifies the rate of return approved by the CBT
EPF interest rate for FY17 to be lower than that provided for FY16
Last year, FinMin decided to lower EPF interest rate of 8.8% for 2015-16 decided by the CBT to 8.7%
CBT has recommended a minimum sum assured of Rs 2.5 lakh in the event of death of a subscriber.
It also extended deadline for submitting digital life certificates for its over 50 lakh pensioners
EPFO receives close to 1 crore applications manually for various settlements
Hike in the wage ceiling would mean an additional burden of about Rs 2,700 for the Centre
However, CBT agrees to cover 62 lakh volunteers under the EPFO's social security scheme
In 2015, finance ministry had allowed PPFs to invest 5-15% of its investible deposits in equity
The new rate of administrative charge would be applicable from April 1, 2017