NEW DELHI: Retirement fund body EPFO today decided to provide interest on inoperative accounts from April 1, a move which will benefit over nine crore such account-holders having total deposits of over Rs 32,000 crore.
The decision was taken by the Employees’ Provident Fund Organisation’s (EPFO) apex decision making body Central Board of Trustees’ headed by Labour Minister Bandaru Dattatreya.
“UPA Government stopped interest on inoperative accounts. Now we have taken a pro-worker decision. The UPA Government which was claiming to be a pro-worker, stopped the interest on inoperative accounts.
“Now, we have decided to credit interest in inoperative accounts. There will not be any inoperative accounts,” Dattatreya told reporters after the CBT meeting here.
He also informed that interest on deposits in inoperative accounts will be credited from from April 1. (AGENCIES)
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