EPFO to give interest on 'inoperative' provident funds
Union Labour Minister Bandaru Dattatreya on Monday said the government will soon issue a notification authorising retirement fund body EPFO to pay 8.8% interest to "inoperative" provident fund accounts. Adding that about ₹42,000 crore lies in "inoperative" accounts, Dattatreya said about 9.7 crore workers will benefit from this. The inoperative accounts have not been paid interest since 2011.