EPFO finalises 8.65pc interest for 2018-19: Labour Minister Santosh Gangwar
New Delhi, Feb 21: Retirement fund body EPFO has decided to provide 8.65 per cent interest on PF deposits for 2018-19 against 8.55 per cent in the last year to its 6 crore subscribers, Labour Minister Santosh Gangwar said Thursday.
All members of the Central Board of Trustees (CBT) of EPFO at a meeting here agreed to give a higher interest for subscribers for the current fiscal, the minister said further.
The proposal would now go to the Finance Ministry for approval, Gangwar said after the CBT meeting.
Earlier, highly placed sources had indicated that the interest on EPF deposits for this fiscal could be more than 8.55 per cent in view of impending general elections.
The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year.
Once approved by the CBT, the proposal requires the concurrence of the Finance Ministry. The interest rate is credited into the subscribers account after the Finance Ministry's approval.
The EPFO had provided a five-year low rate of interest of 8.55 per cent to its subscribers for 2017-18. The body had kept the interest rate at 8.65 per cent in 2016-17 and 8.8 per cent in 2015-16. It provided 8.75 per cent interest for 2013-14 as well as 2014-15. The rate of interest was 8.5 per cent in 2012-13.
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Kharge has put 'full stop' to leadership speculation in Karnataka: Minister Parameshwara
Bengaluru (PTI): Karnataka Home Minister G Parameshwara on Friday said AICC chief Mallikarjun Kharge has put a "full stop" on the issue of leadership change in the state.
Kharge's statement has a lot of significance and there ends the matter for now. Everyone in the party should respect and accept this, he said.
Parameshwara was referring to Kharge's statement on Thursday that there was no chief minister change in Karnataka "for now" and that the leadership issue in the state will be resolved soon.
Kharge's statement came amid speculation within the party and political circles about a possible decision on leadership change and cabinet reshuffle after May 4, once the results for assembly elections in four states and one union territory, along with bypolls to two assembly segments in Karnataka, are announced.
"Mallikarjun Kharge is our party's national president. He has a lot of experience. Several people, including me, have said that in the case of change (in leadership), if he (Kharge) comes (as CM), no one could speak in front of his experience and everyone would accept it. While replying to it, Kharge said that there is a chief minister now, and there is no question of change as of now," Parameshwara said.
Speaking to reporters here, he said, "I welcome his (Kharge) statement because I feel he has expressed his opinion after a discussion involving him, Rahul Gandhi, Sonia Gandhi, K C Venugopal and Randeep Singh Surjewala (both AICC general secretaries). I may be right or wrong. I feel that his statement has a lot of significance. So that matter ends there for now."
Responding to a question on repeated statements by several party leaders regarding leadership change, the home minister said, what the AICC chief has said on the matter is final. It should be respected and accepted by all in the party. There is no meaning in interpreting it further.
"I cannot respond to what others say, but I can say my opinion. In my opinion, the AICC chief is the supreme authority in the party. He, along with Rahul Gandhi and Sonia Gandhi, are our high command. If the high command has said something, we should both respect and accept it. There ends the matter," he said.
Kharge has put a "full stop" on the issue, he further said, adding that, "When he has said there is no change. It is a full stop."
Responding to a question on Parameshwara's recent statement about Kharge becoming chief minister, the AICC chief on Thursday said, "You (media), he (Parameshwara), and people at the top say that it is better if I become CM. But more than fate, as per my ideology and my service to the party so far, Sonia Gandhi makes decisions regarding me."
He had further said, "But that question does not arise now. There is already a CM here. If Sonia Gandhi, Rahul Gandhi, and I together have to take any decision in that direction, it will take some time. Let's wait and see."
Kharge on Friday too said no date has been fixed yet to discuss a possible leadership change in Karnataka.
Supporters of Deputy Chief Minister D K Shivakumar have been insisting on his elevation in line with a reported power-sharing agreement with Chief Minister Siddaramaiah when the party won the 2023 Assembly elections. Some have even claimed that "sweet news" is expected by May 15, which is Shivakumar's birthday.
The leadership tussle within the ruling party has intensified amid speculation about a possible change of chief minister after the Congress government completed the halfway mark of its five-year term on November 20, 2025.
The speculation has been fuelled by a reported "power-sharing" arrangement between Siddaramaiah and Shivakumar at the time of government formation in 2023.
