" IRS OFFICERS PROMOTED FROM THE GRADE OF SUPERINTENDENT OF CENTRAL EXCISE ARE ALSO MEMBERS OF AIACEGEO. THIS IS THE ONLY ASSOCIATION FOR SUPERINTENDENTS OF CENTRAL EXCISE AND IRS OFFICERS PROMOTED FROM THE GRADE OF SUPERINTENDENT OF CENTRAL EXCISE THROUGH OUT THE COUNTRY . President Mr.T.Dass and SG Mr. Harpal Singh.

Monday, 13 January 2014

Retirement fund body EPFO Monday announced a hike in interest rate on Provident Fund deposits to 8.75 per cent for 2013-14, a decision that will benefit over 5 crore subscribers.

The interest rate on PF deposits in the previous financial year was from 8.5 per cent.

The decision to raise interest rate was taken by the Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisaton (EPFO).

"We have decided to recommend to the government 8.75 per cent rate of interest for 2013-14 to its subscribers," Labour Minister Oscar Fernandes, who chaired the CBT meeting, told reporters here.

The EPFO's recommendations would now be vetted by the Finance Ministry. Once the ministry gives its concurrence to the decision, the interest would be credited into the accounts of subscribers.