Provident fund losses force Air India to pay its staff lower than EPFO rate

EPFO has approved an interest rate of 8.5% for the current year and AI employees are getting less than that, sources said. The privatisation-bound national carrier – which incurred significant losses on PF money of its employees due to investments in troubled firm Dewan Housing Finance (DHFL) – has sought employees approval to move their PF accounts to EPFO.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3AFzS3d