Government worker Sonia says that PF acts as a sheet for the retired worker, from which he covers his physique. According to which inflation is rising, it may be estimated from this within the coming time. An individual will spend 25 to 30 thousand rupees in residing a standard life. Once curiosity was out there on the fee of 9%. So far the speed has been lowered to 1.4%. Where ought to they turn out to be the assist of their authorities workers, however quite the opposite, they’re making a dent within the assist they’ve.
On the opposite hand, Vijay Narayan, who’s working in a non-public firm, mentioned that solely PF facility is accessible in non-public jobs. Earlier, much less PF was deducted in keeping with the wage. Even then good curiosity was out there, as there was 12% rate of interest. Now we’re getting double funds deducted as in comparison with earlier, but nothing a lot profit is seen.
Another authorities worker Dharmendra Kumar informed that earlier there was much less wage, then extra curiosity was out there. Now there may be extra wage and extra funds are deducted, however because of much less curiosity there’s a loss. I get PF deducted from 18 years. If curiosity continues to be obtained at this fee, then there can be a lack of 1 to 2 lakhs until my retirement. In the long run, if the rate of interest is even decrease, then extra losses must be incurred. It is the request of the federal government to supply the safety of a greater life after retirement to its workers. In this manner, decreasing the rate of interest will solely harm. It can be tough to make a residing after retirement.
What would be the impact of deduction of curiosity on EPFO on workers, know from them
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