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Revised KVS Admission Schedule 2022-23

By
igeadmin
-

KVS released the Revised KVS Admission Schedule 2022-23. The last date for Online Registration for Admission to Class I in Kendriya Vidyalayas for the Academic Year 2022-23 has been extended upto 11.04.2022 (Monday) 07:00 pm. Accordingly, the Online Registration, which has commenced on 28.02.2022, will now close at 07:00 pm on 11.04.2022. The other contents of the said admission notice 2022-23 will remain unchanged. Check the complete revised KVS Admission Schedule 2022-23

Revised KVS Admission Schedule 2022-23

S.No Contents Scheduled Dates
1 Advertisement for admission  Last week of February 2022 
2 Online Registration for Class-I 28.02.2022 (Monday)
10:00 AM onwards 
3 Last date of Online Registration for Class-I. 11.04.2022 (Monday) 7:00 PM
4 (a) Declaration of provisional select and waitlist of registered candidates.
(b) Admission of eligible candidates of selected list in following order:
(i) RTE
(ii) From Service Priority Category (I and II) only
(iii) Shortfall of Reservation Quota after admission in (i) and (ii)above		 1st list on 18.04.2022
(Monday)
2nd list on 25.04.2022
(Monday)
(if seats remain vacant)
3rd list on 02.05.2022
(Monday)
(if seats remain vacant)
5(i) Declaration of provisional select list of candidates as per priority service category for unreserved seats, if any (keeping the left over reserved seats blocked) 28.04.2022 (Thursday)
to
02.05.2022 (Monday) 
5(ii) Extended date for Second Notification for
offline registrations for admissions to be made
under RTE Provisions, SC/ST and OBC (NCL)
if sufficient applications not received in online
mode. 		 Notification on 10.05.2022 (Tuesday)

Registration from 10.05.2022 (Tuesday)
to 13.05.2022 (Friday)

Display of list and Admissions 17.05.2022 (Tuesday) to 23.05.2021 (Monday) 
6 Registration for Class-II onwards (except Class
XI) – Subject (in offline mode) to availability of
vacancies in a particular class		 08.04.2022 (Friday)
to
16.04.2022 (Saturday) 
7 Declaration of list of class II onwards.  21.04.2022( Thursday) 
8 Admission for class II onwards. 22.04.2022 (Friday)
to 28.04.2022 (Thursday)
9 Last date of admission for all classes except
class XI		 30.06.2022 
10 For KV students: Registration for admission in
class Xl		 Within 10 days after declaration of class X result
11 KV students: Display of admission list 86 admissions for Class-XI.  Within 20 days after declaration of class X results.
12 Non-KV students: Registration, display of admission list 86 admissions in class XI (Subject to availability of vacancies)  After the admissions of KV students in class XI
13 Last date of admission for class – XI.  30 days from the date of declaration of class-X results by CBSE

Also Read: KVS Admission 2022-23: Revised Age Limit for Class 1

Note:-

List of children registered, list of eligible children, category-wise list of provisionally selected children, waiting list and subsequent lists to be compulsorily displayed on the website of the Kendriya Vidyalayas concerned, in addition to display on School’s Notice Board.

If any of the dates happens to be a public holiday the next working day shall be treated as opening/closing dates.

When is the Online Registration for Class-I in KVS?

The Online Registration for Class-I in KVS is on 28.02.2022 (Monday) 10:00 AM onwards 

When is the Last date of Online Registration for Class-I in KVS?

The Last date of Online Registration for Class-I in KVS is 11.04.2022 (Monday) 7:00 PM

Whether KVS revised the age limit for Class 1?

Yes, KVS Revised the age limit for class 1 admission, check here for complete details

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RBE Order 32/2022: Payment of family pension applicable to employees who expired before the date of issue

By
igeadmin
-

Payment of family pension applicable to employees who expired before the date of issue

R.B.E. No. 32/2022

GOVERNMENT OF INDIA (भारत सरकार)
MINISTRY OF RAILWAYS (रेल मंत्रालय)
RAILWAY BOARD (रेलवे बोर्ड)

No. D-43/43/2020-F(E)III

New Delhi, dated:17.03.2022

The General Managers/Principal Financial Advisors,
All Zonal Railways/Production Units etc.,
(As per mailing list)

Sub:- Payment of family pension, death gratuity and other dues to the family on death of a Railway servant during service – regarding.

Please refer to the Board’s letter of even number dated 04.06.2021 circulating DOP&PW’s O.M. No. 1/11/2021-P&PW/(E) dated 03.06.2021 vide which order was issued providing for instructions regarding payment of family pension, death gratuity and other dues to the family on death of a Railway Servant during service.

2. One of the Zonal Railways had sought clarification regarding the applicability of the Board’s instructions dated 04.06.2021 on the past cases.

3. The issue has been examined in consultation with Department of Pension & Pensioners’ Welfare (DOP&PW) and it is clarified that Board’s instructions of even number dated 04.06.2021 are also applicable in respect of employees who expired before the date of issue of the said order irrespective of deceased employee covered under Old Pension scheme or under NPS.

This also disposes of North Eastern Railway’s letter No. पेंशन/मु./एनपीएस/समापक/2019 dated 25.02.2022.

(Sanjay Prashar)
Deputy Director, Finance (Estt.)III,
Railway Board

 

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Number of retired persons availing Central Government pension: Lok Sabha QA

By
igeadmin
-

Number of retired persons availing Central Government pension: Lok Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
LOK SABHA

UNSTARRED QUESTION NO: 2324
ANSWERED ON: 16.03.2022

Central Government Pensioners

Su Thirunavukkarasar
Will the Minister of PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS be pleased to state:-

(a) the estimated number of retired persons availing Central Government pension in the country, State-wise;

(b) whether the Government has any proposal to utilize doorstep services of postal department for submission of Digital Life Certificate (DLC) through postman in order to ease the process;

(c) if so, the details thereof; and

(d) the time by which the above proposal is likely to be implemented?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS AND MINISTER OF STATE IN THE PRIME MINISTER’S OFFICE (DR. JITENDRA SINGH)

(a): As per database maintained by Central Pension Accounting Office (CPAO), Controller General of Defence Accounts, Ministry of Railways, Department of Telecommunications, Department of Post, the estimated number of retired persons availing Central Government pension is at Annexure-I.

(b) to (d): With a view to make Doorstep Services for submission of Life Certificate available to all pensioners across the country and to ease the process, the Department of Pension & Pensioners’ Welfare roped in the India Posts and Payment Bank (IPPB) under the Department of Posts for Digital Life Certificate. The IPPB has started Doorstep Service of obtaining Life Certificate in November, 2020 through its network of Postmen & Gramin Dak Sevaks.

Also Read: Scrapping of NPS and revert all officials of Central Government under OPS?: Rajya Sabha QA

Annexure: I
The approximate number of Central Government Pensioners as on 31/03/2021 is as follows:

S.No Pensioner/Family Pensioner Number of Pensioners including Family Pensioner
A Pensioners (incl Family Pensioners) of all Ministries/Departments under the Accounting jurisdiction of Controller General of Account, M/O Finance.

(Central Pension Accounting Office (CPAO), Department of Expenditure, Ministry of Finance is responsible for maintaining the pensioners’ data and incurring expenditure on payment of pension/family pension. Civil Ministries include all the CAPFs viz. BSF, CRPF, Assam Rifles, SSB, CISF, ITBP under MHA as
well.)		 11,06,000
(3,50,000)
B Defence Pensioners (incl Family Pensioners)
(The data and accounts etc. of these pensioners are maintained by
Controller General of Defence Accounts (CGDA), Ministry of
Defence.		 34,10,567
(9,36,192)
C Railway Pensioners (incl Family Pensioners)
(The data and accounts etc. of these pensioners are maintained by
Ministry of Railways)		 15,54,585
(6,59,483)
D Telecom Pensioners (incl Family Pensioners)
(The data and accounts etc. of these pensioners are maintained by
Department of Telecommunication)		 4,67,751
(1,16,000)
E Postal Pensioners (incl Family Pensioners)
(The data and accounts etc. of these pensioners are maintained by
Department of Posts)		 3,23,562
(99,133)
  GRAND TOTAL OF PENSIONERS(incl Family Pensioners) 68,62,465
  GRAND TOTAL OF FAMILY PENSIONERS ONLY 21,60,808

* As per the data received from the CPAO, Defence, Railways, Telecom & Posts.

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Scrapping of NPS and revert all officials of Central Government under OPS?: Rajya Sabha QA

By
igeadmin
-

Scrapping of NPS and revert all officials of Central Government under OPS?: Rajya Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
*****

RAJYA SABHA
UNSTARRED QUESTION NO. 1479

TO BE ANSWERED ON 15th MARCH, 2022 (TUESDAY)/ PHALGUNA 24, 1943 (SAKA)

SCRAPPING OF NEW PENSION SCHEME

1479. Shri Vishambhar Prasad Nishad,
Smt. Chhaya Verma,
Ch. Sukhram Singh Yadav:

Will the Minister of Finance be pleased to state:

(a) whether State Government of Rajasthan has scrapped New Pension Scheme (NPS) and has announced to revert all officials under NPS to Old Pension Scheme (OPS) on 23/2/2022;

(b) if so, the details thereof;

(c) Whether the Union Government would also scrap NPS and revert all officials of Central Government under OPS on the line of State Government of Rajasthan;

(d) if so, the details thereof; and

(e) if not, the reasons therefor?

ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(DR. BHAGWAT KARAD)

(a) and (b) State Government of Rajasthan in Budget Speech on 23rd February, 2022, announced to implement old pension scheme from the forthcoming year, for all employees appointed on or after 1sst January, 2004

(c) to (e) There is no such proposal under consideration of Government of India.

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Reasons for Dearness Allowance and Dearness Relief of CG Employees have remained static at a 3 percent increase?

By
igeguest
-

Static Dearness Allowance and Dearness Relief – Rajya Sabha QA

Government of India
Ministry of Finance
Department of Expenditure

Rajya Sabha
Unstarred Question No. 1477
To be answered on Tuesday, 15th March, 2022
Phalguna 18, 1943 (Saka)

Static DA/DR

1477:: Shri Naranbhai J. Rathwa:
Will the Minister of Finance be pleased to state:

(a) whether ii is a fact that India’s retail inflation including food inflation is increasing for the past one year;

(b) If so, what are the reasons that Dearness Allowance (DA) and Dearness Relief (DR) of Central Government employees have remained static at 3 per cent increase;

(c) whether the inflation rate of last two quarters of 2021 have shown increase in prices of various commodities; and

(d) if so, whether Government would consider giving DA/DR in accordance with the prices and would not maintain DA/DR al static 3 per cent?

Answer

Minister of State in the Ministry of Finance (Shri Pankaj Chaudhary)

(a) Yes Sir, details of retail inflation rate and food inflation are given in Annexure-I ;

(b) Dearness Allowance(DA) and Dearness Relief (DR), to Central Government employees and pensioners respectively, is calculated on the basis of rate of inflation as per All India Consumer Price Index for Industrial Workers (AICPl-IW), released by Labour Bureau, M/o of Labour and Employment;

(c) The information in respect of retail inflation rate for last two quarters of 2021 is:

QuarterAverage inflation rate
July 2021 to September 20215.08
October 2021 to December 20215.01

(d) Does not arise in view of (b) above.

*****

Also Check:

Annexure-I

All India year on year inflation rate based on CPI for the combined sector (Base Year 2012=100)

Year/MonthInflation rate (CPI)Inflation rate (CFPI)
January, 20214.061.96
February, 20215.033.87
March, 20215.524.87
April, 20214.231.96
May, 20216.305.01
June, 20216.265.15
July, 20215.593.96
August, 20215.303.11
September, 20214.350.68
October, 20214.480.85
November,20214.911.87
December, 20215.664.05
January, 20226.01(Provisional)5.43(Provisional)

Source : Rajya Sabha

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Kendriya Vidyalayas in Tamil Nadu – Lok Sabha QA

By
igeguest
-

Kendriya Vidyalayas in Tamil Nadu – Lok Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF Education
LOK SABHA

UNSTARRED QUESTION NO: 1985
ANSWERED ON: 14.03.2022

Kendriya Vidyalayas in Tamil Nadu

S. Ramalingam
M.K. Vishnu Prasad

Will the Minister of Education be pleased to state:-

(a) whether the Government proposes to set up new Kendriya Vidyalayas (KVs) in all the States and if so, the details thereof Region-wise / District-wise;

(b) whether the Government proposes to set up a new KV in Mayiladuthurai area of Tamil Nadu where sufficient land is available and could be acquired without any delay from Tamil Nadu Government as per the norms;

(c) if so, the details thereof and if not, the reasons therefor;

(d) the details of districts in Tamil Nadu where KVs have not been set up; and

(e) the total number of KVs and presently functional KVs in Tamil Nadu along with total number of students studying in these schools?

Also Read: Kendriya Vidyalaya Class 1 Online Admission 2022-23

ANSWER

(SMT. ANNPURNA DEVI)

MINISTER OF STATE IN THE MINISTRY OF EDUCATION

(a) to (c) Opening of new KVs is a continuous process. KVs are opened primarily to cater to the educational needs of the wards of transferable Central Government Employees including Defence & Para-Military personnel, Central Autonomous Bodies, Central Public Sector Undertakings (PSUs) and Central Institute of Higher Learning (IHL) by providing a common programme of education throughout the country. Proposals for opening of new KVs are considered only if sponsored by Ministries or Departments of the Government of India / State Governments / Union Territories (UTs) Administrations and committing resources for setting up a new KV. The proposals received from various sponsoring authorities found fulfilling the mandatory pre-requisites for opening of new KVs have to compete with other such proposals under the “Challenge Method” and subject to approval of the competent authority. Kendriya Vidyalaya Sangathan has not received any proposal in the prescribed proforma for opening of a new KV in Mayiladuthurai area from the State Government of Tamil Nadu.

(d) KVs are not opened on the criteria of State / District – Wise etc. There is no KVs in Ariyalur, Erode, Kallakurichi, Karur, Krishnagiri, Nagapattinam, Namakkal, Pudukkottai, Salem, Theni, Thoothukudi & Viluppuram districts of Tamil Nadu.

(e) At present, 45 KVs are functioning in the State of Tamil Nadu and 64347 students are studying in these KVs.

*****

Source : Loksabha

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Contribution of employees and EPF – Lok Sabha QA

By
igeguest
-

Contribution of employees and EPF – Lok Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT

LOK SABHA

UNSTARRED QUESTION NO. 2024
TO BE ANSWERED ON 14.03.2022

CONTRIBUTION OF EMPLOYEES AND EPF

T 2024. SHRI NIHAL CHAND:
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:

(a) the details of the contribution of basic salary of employees under the Employees Provident Fund as prescribed by the Government;

(b) whether the Government proposes to bring any change in the said contribution, if so, the details thereof;

(c) the details of benefits provided to the employees through EPF Scheme at present by the Government; and

(d) whether the Government proposes to provide better facilities to employees, if so, the details thereof?

Also Read: Central Board recommends 8.10% rate of interest to its subscribers for the year 2021-22 – EPFO

ANSWER

MINISTER OF STATE FOR LABOUR AND EMPLOYMENT
(SHRI RAMESWAR TELI)

(a): Under the Employees’ Provident Fund (EPF) Scheme, 1952, an employee of any covered establishment drawing monthly wages up to Rs. 15,000 is statutorily required to join the fund and to contribute 12% of wages, which includes basic wages, dearness allowance and retaining allowance, if any.

(b): The Code on Social Security, 2020 (36 of 2020), was notified on 29.09.2020, which subsumes 9 Central labours laws including the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. There is a provision under section 16 of the said Code which enables the Central Government to prescribe, by notification, different rates of employees’ contribution for specified period for any class of employee. However, the said Code has not yet come into force.

(c) & (d): A member of the EPF Scheme, 1952 is entitled to the benefit of withdrawal and advance from the EPF as per the provisions contained in the said scheme. Further, the Scheme was amended in March, 2020 by inserting the provision for allowing non-refundable advance to EPF members during Pandemic / Epidemic. This provision allowed EPF members to avail advance from their EPF account to the extent of 75 per cent of their balance or three-month wages whichever is less. The EPF members who have already availed the first COVID-19 advance can also opt for a second advance. A member is also entitled for credit of interest on his/her PF accumulations each year.

The steps being taken by the Employees’ Provident Fund Organisation (EPFO) for providing faster settlement of all types of PF claims are as under:

  1. Allocation of Universal Account Numbers (UAN) to members of PF for consolidation of previous PF accounts and portability in case of change of employment.
  2. Online Transfer Claim Portal (OTCP) has been introduced to facilitate seamless transfer of claims.
  3. The facility for submission of claim forms through online mode has been introduced for those subscribers who have seeded their KYCs against the UAN.
  4. The services of EPFO for employees have also been integrated and offered through the Unified Mobile Application for New-age Governance (UMANG) Application, which enables a member to access his passbook, track the status of his claim, submit online claim form, etc.
  5. A single-page Composite Claim Form has been introduced by replacing the erstwhile multiple Claim Forms for withdrawals.
  6. A member is no longer required to submit documents e.g. medical certificate and may only self-certify to avail withdrawals.
  7. The entire payment to subscribers is done electronically through National Electronic Funds Transfer (NEFT) system.

The provisions relating to facilities to the employees covered under EPFO are determined by the provisions of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 and the schemes framed thereunder and their betterment is an ongoing exercise.

Source : LokSabha

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OROP Supreme Court Latest News: SC upholds govt’s decision on One Rank One Pension

By
igeadmin
-

OROP Supreme Court Latest News: SC upholds govt’s decision on One Rank One Pension

The Supreme Court on Wednesday upheld the Union government’s decision on One Rank One Pension (OROP) for defence forces, saying it did not come across any “constitutional infirmity” in the manner in which it was being implemented.

The apex court made this observation on a plea by ex-servicemen association seeking implementation of One Rank-One Pension as recommended by the Bhagat Singh Koshyari Committee.

According to reports, the Committee has recommended an automatic annual revision, instead of the current policy of periodic review once in five years.

A three-judge bench of Justices DY Chandrachud, Surya Kant and Vikram Nath observed that there is no legal mandate that everyone who held the same rank must have the same pension, adding that the scheme was a policy decision taken by the Central government and the government was empowered to do so, it was held.

The bench of Justices DY Chandrachud, Surya Kant and Vikram Nath refused to accept the challenge made by the association “Indian Ex-Service Movement” against the 2015 notification issued by the Centre.

“The Central government has taken a policy decision. Such a decision lies within the ambit of policymaking powers of the government. . We find no constitutional infirmity in the OROP principle adopted”, the bench said in the judgment pronounced today.

The bench has however directed that the re-fixation exercise as per the policy should be carried out with effect from July 1, 2019 and the arrears should be paid to the pensioners within 3 months.

No legal mandate that pensioners who hold same rank must be given same pension

The top court, however, said the government must conduct a refixation exercise for a period of 5 years with regard to pension payable to Army personnel as stated in the OROP policy in accordance with the November 7, 2015 notification.

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Status of Cadre Review as on 15th March, 2022

By
igeguest
-

Status of Cadre Review proposals processed in Cadre Review Division of DoPT from 1st January 2016 to 28th February, 2022 (as on 15th March, 2022)

S. No.Name of the ServiceCRC* MeetingCabinet Approval
1Indian Postal Service28.12.201525.05.2016
2Central Reserve Police Force15.12.201529.06.2016
3Indian Information Service05.05.201624.08.2016
4Border Security Force29.06.201612.09.2016
5Indian P & T Accounts and Finance Service17.09.201527.10.2016
6Ministry of Micro, Small and Medium Enterprises (MSME) Indian Enterprise Development Service (IEDS)28.12.201521.12.2016
7Indian Telecom Service06.10.201621.12.2016
8Central Engineering Service (Roads)25.04.201606.03.2017
9Indian Naval Material Management Service24.10.201322.06.2017
10Indian Defence Accounts Service09.09.201619.07.2017
11Sashastra Seema Bal (SSB)(Group ‘A’ Combatised)19.7.201720.12.2017
12Central Industrial Security Force (CISF)15.05.201710.01.2018
13Indian Petroleum and Explosive Safety Service (IPESS)09.01.201702.05.2018
14Indian Railways Personnel Service19.04.201819.02.2019
15Indian Railways Traffic Service19.04.201819.02.2019
16Indian Railways Stores Service19.04.201819.02.2019
17Indian Railways Accounts Service19.04.201819.02.2019
18Indian Railways Service of Mechanical Engineers19.04.201819.02.2019
19Indian Railways Service of Electrical Engineers19.04.201819.02.2019
20Indian Railways Service of Engineers19.04.201819.02.2019
21Indian Railways Service of Signal Engineers19.04.201819.02.2019
22Indo Tibetan Border Police08.02.201923.10.2019
23Indian P&T Building Works02.08.201906.11.2019
24.Indian Cost Accounts Service26.08.202025.05.2021

* CRC – Cadre Review Committee

B. Status of Proposals under consideration

S.No.Name of the ServiceStatus
(1) Meeting of Cadre
Review Committee held-10
1.Indian Defence Estates ServiceCadre Controlling Authority (CCA) to take approval of the Cabinet.
2.Indian Naval Armament ServiceCCA to take approval of the Cabinet.
3.Military Engineering Service (IDSE, Surveyor, Architect)CCA to take approval of the Cabinet
4.Central Geological Service Group ‘A’CCA to take approval of the Cabinet
5.Geological Survey of India Chemical Service Group ‘A’CCA to take approval of the Cabinet
6.Geological Survey of India Geophysical Service Group ‘A’CCA to take approval of the Cabinet
7.Geological Survey of India Engineering Service Group ‘A’CCA to take approval of the Cabinet
8.Railway Protection Force (Indian Railway Protection Force Service)CCA to take approval of the Cabinet
9.Indian Railway Health ServiceCCA to take approval of the Cabinet
10.Medical Cadres of CAPFs, NSG & ARCCA to take approval of the Cabinet
(2) Pending for consideration of CRC -1
11.Indian Radio Regulatory ServiceNote for CRC has been sent to Cabinet Secretariat.
(3) Pending with Department of Expenditure-0
(4) Pending with DoPT -7
12.Central Health Service (CHS)Note for CRC is under submission.
13.Indian Ordnance Factories Health Services (IOFHS)Note for CRC is under submission.
14.Indian Civil Accounts ServiceNote for CRC is under submission.
15.Indian Revenue Service (C&IT)Proposal under examination.
16.Indian Foreign ServiceProposal under examination.
17.Indian Economic ServiceProposal under examination.
18.Indian Corporate Law ServiceProposal considered by CRC. As per directions of PMO, CCA has submitted revised proposal which is under examination.
(6) Information / clarification/ reply pending with CCA -4
19.Indian Skill Development ServiceAs per directions of Cabinet Secretariat, CCA to submit revised proposal.
20.Central Engineering Service (Roads)Proposal withdrawn by the CCA.
21.Central Power Engineering ServiceReply from CCA is awaited.
22.Survey of India Group ‘A’Reply from CCA is awaited.

Under Secretary (CRD)
15/03/2022

Signed Copy

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Central Board recommends 8.10% rate of interest to its subscribers for the year 2021-22 – EPFO

By
igeguest
-

The Central Board recommends 8.10% rate of interest to its subscribers for the year 2021-22

The 230th meeting of Central Board of Trustees, EPF was held today during the AKAM Iconic Week in Guwahati under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change, Vice-Chairmanship of Shri RameshwarTeli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Chairmanship of Shri Sunil Barthwal, Secretary Labour & Employment and the Member Secretary Smt. NeelamShammi Rao, Central P F Commissioner.

The Central Board recommended 8.10% annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2021-22. The interest rate would be officially notified in the government gazette following which EPFO would credit the rate of interest into its subscribers’ accounts.

EPFO despite following a conservative approach towards investment, has consistently generated high returns over the last many years which has enabled it to distribute higher interest to its subscribers, through various economic cycles with minimal credit risk.

Also Read: GPF Interest Rate from January 2022 to March 2022

Traditionally, EPFO has been able to give a higher rate of interest on retirement savings in comparison to other available investment options because of its prudent investment policy of investing in long tenor high yielding securities for the past several decades. This has ensured that the returns on EPFO’s investments are higher even when the yields have been steadily coming down in the past decade.

For FY 2022, EPFO decided to liquidate some of its investment in equities and the interest rate recommended is a result of combined income from interest received from debt investment as well as income realized from equity investment. This enabled EPFO to provide a higher return to its subscribers and still allowed EPFO with a surplus to act as a cushion for providing a higher return in the future also. There is no over-drawl on the EPFO corpus due to this income distribution.

The assured fixed return approach of EPFO, announced by CBT every year along with the tax exemptions makes an attractive savings option for the PF members.

*****

PIB

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