EPFO may also Have Rs 1,six hundred Crore Surplus by 12 months-end: Bandaru Dattatreya

EPFO may also Have Rs 1,six hundred Crore Surplus by 12 months-end: Bandaru Dattatreya

EPFO May Have Rs 1,600 Crore Surplus by Year-End: Bandaru Dattatreya

Hyderabad: The employees Provident Fund organisation (EPFO) is probably to have a surplus of Rs 1,600crore by the cease of this yr, Union Labour Minister Bandaru Dattatreya stated on Friday.

“At a time whilst interest charges in all banks are coming down, our EPFO took appropriate projects and did portfolio control well. We gave eight.eight in keeping with cent hobby rate.

no matter that, we are nevertheless possibly to have a surplus of Rs 680 crore. there’s a hazard of that going as much as Rs 1,600 crore by this year end,” he told journalists.

Noting that the authorities is operating on supplying regular minimum salary, the minister said the statutory amendments (in Parliament) need to be made to make it mandatory.

The country wide floor degree minimal salary trouble is now advisory in nature. there is no uniformity inminimal wages being paid inside the united states of america at gift. The government has held talks withexchange unions and unique ministries on supplying commonplace minimum wage, he said.

The minister said the Labour Ministry could organise an exhibition and seminar at the achievements on Saturday.

Conventions would be held throughout the u . s . a . to raise cognizance among people and employeeson the measures taken with the aid of the ministry, he stated.

(This tale has no longer been edited by NDTV personnel and is auto-generated from a syndicated feed.)