Government’s big gift to 6 crore employees, now they will get more interest on PF money Government’s big gift to 6 crore employees, now they will get more interest on PF money

Government’s big gift to 6 crore employees, now they will get more interest on PF money Government’s big gift to 6 crore employees, now they will get more interest on PF money

According to a Live Mint report, EPFO ​​now plans to invest a portion of its employees’ PF in the Infrastructure Investment Trust (InvIT’s).

Government's big gift to 6 crore employees, now they will get more interest on PF money

Provident Fund

New Delhi: 6 crore employees in the country can get more interest on their PF. In fact, the decision was taken by the Employees Provident Fund Organization (EPFO), an organization of PFs. According to a Live Mint report, EPFO ​​now plans to invest a portion of its employees’ PF in the Infrastructure Investment Trust (InvIT’s). This decision will increase the scope of EPFO’s investment. (Government’s big gift to 6 crore employees, now they will get more interest on PF money)

… So investment in infrastructure will accelerate

The increase in the coverage of 6 crore PF customers of the Employees Provident Fund will also have an effect on the interest rates they receive. At the same time, it will accelerate investment in infrastructure and increase the scope of investment for EPFO.

PF invests customers’ money only in bonds and government securities

Currently, the Employees Provident Fund organization PF invests customers ’money only in securities and government securities. But after investing in Innits, investors will have another option. In fact, invite acts like a mutual fund investment. It is believed that 6 crore customers will benefit from this decision.

What is Innits?

InvIT’s is an investment option regulated by market regulator SEBI through mutual funds. Investors can get regular income by investing a small amount in it. Government sources told Live Mint that considering this investment option, investors’ money would be diverted to another fund and investors would also benefit.

Thus PF holders will benefit

The interest rate for provident fund holders has been fixed at 8.5 per cent for the financial year 2020-21. The amount is expected to be credited to the account holder’s account by the end of next month. Also, after this new investment option, some of the investor’s money will be kept in corps like Inits. This is expected to give investors a higher return. In the actual budget, Finance Minister Nirmala Sitharaman had given her hints. Now the Employees Provident Fund Association is considering this new option when deciding the budget.

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Government’s big gift to 6 crore employees, now they will get more interest on PF money

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