Employee Provident Fund or EPF is a government initiative in India through which private employees can get a pension.
The interest is calculated at 1% simple interest per month on the defaulted amount for three months. The interest penalty would continue up to the next deadline. If even after the last deadline of 15 March, the tax is not paid, then the 1% would be on the defaulted amount for a month...
Aslowdown or recession is always followed by a recoveryin the economy andsharp rebound in the stock market. And that is what should be remembered at all times, in particularly on not-so-good days, rather than trying to forecast macros (like me doing it in the article you are reading). ...
They will generally keep this money in the banks and spend their days with the interest that is being come monthly to them. The EPF pension they will be getting is very minimum.But recently the scams that are getting revealed in the banking sector and the way the interest rates are coming...