EPF rate cut by 0.1% to 8.55%

New Delhi, February 21

Retirement fund body EPFO today lowered the rate of interest on Employees Provident Fund to 8.55 per cent for its six crore subscribers for 2017-18. The rate of interest last fiscal was 8.65 per cent.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

“It is difficult to evaluate about the future in view of the present economic scenario. We paid 8.65 per cent last fiscal, which left a surplus of Rs 695 crore. This year, we have decided to recommend 8.55 per cent for 2017-18, which will leave a surplus of Rs 586 crore,” Labour Minister Santosh Gangwar said after EPFO trustees’ meet.

Gangwar said he expected the Finance Ministry to give concurrence to the 8.55 per cent rate of interest at the CBT meeting. — PTI.

GSTR-3B filing simplified

New Delhi: The GST Network has simplified the filing of sales return form 3B whereby businesses will now be able to see input tax credit balance on the forms. “One area where a few taxpayers were making errors frequently was utilisation of input tax credit and computation of balance payment in cash,” GSTN CEO said. PTI