Priyanka tears into Gangwar for insulting North Indians

Gangwar on Saturday claimed that there is no dearth of job opportunities in the country.

8.65 pc interest on EPF to be notified soon: Gangwar

EPFO had provided a five-year-low interest rate of 8.55 per cent to its subscribers for 2017-18.

The total backlog or outstanding provident fund dues of the EPFO during 2018-19 was Rs 791.63 crore.

The new code has been drafted after amalgamation, simplification, and rationalisation of relevant provisions of the 13 Central Labour Acts.

The scheme provides assured monthly pension of Rs 3,000, with contribution of Rs 100 per month.

The proposed new labour law will help investors and is expected to accelerate growth, said an official.

Earlier in Feb, EPFO's apex decision making body Central Board of Trustees had decided to raise interest rate on EPF to 8.65 pc.

'This would benefit those employees of PSUs and others not covered by Payment of Gratuity Act, 1972,' said Labour Minister Santosh Gangwar.

The interest rate is credited into the subscribers account after the Finance Ministry's approval.

There are provisions in the Act like now women can work from home during the leave period.