EPFO to credit 8.5 % interest on provident fund for 2019-2020 by December

EPFO to credit 8.5 % interest on provident fund for 2019-2020 by December

The EPFO has decided to uphold its decision to provide the said rate of interest during a virtual CBT meeting held in September. Employees’ Provident Fund Organisation (EPFO) is expected to credit 8.5 per cent rate of interest in the employees’ provident fund (EPF) of about six crore subscribers for 2019-2020. This is to be done in one go by the end of this year.

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Modi government extends BSNL’s unified license for 20 years, takes Rs 250-crore BG

The Department of Telecommunications (DoT) has extended the unified license (UL) for the next 20 years to state-run Bharat Sanchar Nigam Limited after the latter has submitted a bank guarantee (BG) worth Rs 250-crore.

On December 10, the department has signed an agreement with BSNL, saying that the ‘license shall be valid for a period of 20 years from the effective date of this license unless revoked for reasons specified elsewhere in the document.”

The license has been granted with effect from February 29, 2020. The state-owned telco has been offering services on an ad-hoc basis since then, while the renewal has become one of the many contentious issues between the state-owned telco and the department.

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