EPFO retains interest rate at 8.75% for current fiscal

NEW DELHI: Retirement fund body EPFO's trustees on Tuesday decided to retain interest payment on provident fund deposits for 2014-15 at 8.75 per cent. 

"It has been decided to pay 8.75 per cent interest in the current fiscal," Central Provident Fund Commissioner (CPFC) K K Jalan told PTI after the meeting of the Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organization (EPFO). 

The EPFO has about 5 crore subscribers and the decision will have a bearing on their retirement fund. 

The decision to retain the interest rate on the provident fund deposits at last year's level was taken despite some protest by the trade union members of the CBT, sources said. 

The final notification for payment of the interest rate for the current fiscal will be issued by the finance ministry later.

The EPFO had provided 8.75 per cent rate of interest on PF deposits for 2013-14, which was higher than 8.5 per cent paid for the previous fiscal. 

Source : TOI

Air India offers tickets for Rs 100

NEW DELHI: Air India will sell tickets for Rs 100 (taxes extra) for five days from Wednesday — which it will celebrate as Air India Day to commemorate the merger of erstwhile Indian Airlines and Air India on this day in 2007.

"On this occasion Air India is launching the Air India Offer for its travellers. Under the scheme tickets will be offered for Rs 100/- apart from all applicable taxes. The sale of these tickets will be made only through the Air India website for five days from August 27 to 31 2014 for travel between August 27 and September 30, 2014, only," an AI statement said.

This is the first time that the airline will be celebrating the Air India Day. A function will be held to celebrate the day and also to award the meritorious employees of Air India.

Source : TOI