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EPF interest 2018-19 will be credited soon | पक्का कुछ गड़बड़ है - YouTube
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Hello to all the Jagruk
Janta of Labour Law Advisor Channel
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Friends, Let's talk about the
news first.
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The news is simple, EPF's interest
rate has been finally notified now.
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And your interest might get
credited anytime in your account.
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Interest for the year 2018-19,
that was not notified.
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You might already know about it,
8.65%
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Total is INR 54,000 Crore will
be credited to the account of
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all the subscribers as an interest.
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EPFO's surplus will be INR 151 Crore
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That means after giving INR 54,000 Crore,
INR 151 Crore will be left with EPFO
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And this notification that has been
published, was been published on
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27th Sep, 2019.
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So, friends, this is news.
However, the point is
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What exactly happened this time,
that almost after half a year,
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when Diwali is near.
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Then EPFO is crediting the interest,
wherein it is used to generally
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credit the interest in the month
of April or May.
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Friends, This is the point.
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News is news. But, when it comes
to Jagruk Janta or Labour Law Advisor
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To get to know the point.
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Friends, My name is Rishabh Jain
and you are watching Labour Law Advisor
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Now let's move forward to the
main topic.
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[Intro Music]
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So friends, most of you Jagruk Janta
might know that the past year for
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EPFO wasn't good.
Why didn't it go well?
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There was a scam in ILFS and
EPFO had invested in it.
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DHFL was the worst hit, EPFO had
invested in it.
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In regards to this, the Board
of Trustees, the one's who head
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the Labour Minister. They said
that this year, we would like
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to increase the interest rate
compared to what it was last year.
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Previously, as the rate was 8.55 %,
this time we will give based on 8.65%
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Previously, the surplus we had kept
was INR 586 Crore, this time we
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will keep the Surplus of
INR 151 Crore.
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They didn't even mention this
clearly in their accounts.
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That the loss of ILFS which was
INR 574 Crore Rupees, is that
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accounted or not. The fund of
INR 700 Crore that is stuck
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in DHFL, is that
accounted or not.
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The interest payment that isn't
paid by DHFL, where there is a delay,
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has that been included in the
account or not.
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Then If such questions, came
to my mind. Then definitely,
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Finance Ministry might have thought
about it too.
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Because the final approval that
goes, goes through the Finance Ministry
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In regards to this, Finance Ministry
requested for clarification from EPFO
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that clarify all the stated points.
Give us a satisfactory answer.
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And tell us about this too,
wherein around the nation
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the interest rate is declining,
in Banks, in Corporates.
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In such a situation, why are you
increasing the interest rates
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Let's assume that you haven't
booked the losses in the previous
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financial year. If you book it
in the next financial year.
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Then the interest rate will
drastically decline.
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And the subscribers might wonder
that what is happening?
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So let us know, Why did you do this?
Why did you increase the interest rate?
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And finally, the news reports
states that EPFO has not given
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a clear answer yet.
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They have done something fishy and
are telling that all the calculations
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are correct. We are doing the
calculations the same way as we
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have been doing since the past
20 years.
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Then you don't worry. As we are
saying, you calculate as per 8.65%
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credit the interest based on
that.
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Don't get into too many
questions-answers.
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Finally, this notification was
issued. If it wouldn't have come,
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then what had to be done?
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September is close. Interest that
was supposed to be credited by
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April or May. Haven't been received
any credit until September.
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Hence, finally, something had to be done
then this notification has come.
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Now, EPF based on their losses,
what are they doing to recover
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their losses.
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EPF, during the meeting with
their Central Board of Trustees
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had stated that With respect to
Right of Liquidation,
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The 1st asset is based on which someone
needs to have a right is EPF.
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For eg: If a company goes bankrupt,
step back from their word,
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says that sell all the assets
and pay for all the loss that has
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occurred. If you have given
INR 1000/- as loan, if you can
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retrieve INR 100/- then take it.
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But EPFO states that we aren't
lenders. We are investors, and
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you need to pay us prior.
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Assume that by selling your
company you get INR 1000 Crore Rupees
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Whatever might be the amount that
is pending of others, pay our
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INR 700/- Crore first.
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This has been said by EPFO,
will this be applicable or not?
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Will it be accepted or not?
It's a different thing.
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But this is what EPFO has said.
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Now the money of EPFO that is
stuck with DHFL, ILFS, will they
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be retrieved or not.
That will be a thing to watch.
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As of now, somewhere I do have
a gut feeling.
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And this gut feeling is backed
by a lot of news reports.
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I think there will be some
issue that will occur.
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You might think why do you think
so? I will give the right answer.
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I'm researching about this
topic.
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and with courage, I will make
a video and will explain in clarity
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I won't be able to prove
the final problem that might occur.
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But I will give you some signs.
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Now it is upon you, If you can
hold onto those signs and
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reach to the conclusion.
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Or will you say that
"Brother, You are Anti-Modi"
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Friends, I'm not Anti-Modi
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I like certain things about
every government. But this is
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a public forum. Here you can't
keep appreciating.
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If you think there is something,
then you should have the courage
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to say, it is wrong.
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If you can't term wrong as wrong.
You might be wrong yourself.
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If I am wrong somewhere, then I
ensure that I will confess with
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clarity, that I made a mistake
here.
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Then I will try and upload the
video by next week at the soonest.
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You watch it and understand
it too.
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If you think that there is a
problem somewhere too.
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If there is a problem, that
might be on the way.
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Then we will sit and discuss
as to what we can do.
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Friends, please stay connected
with Labour Law Advisor Channel
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Stay Jagruk
Jai Hind! Jai Bharat
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Before leaving, answer today's
question. One lucky winner to win this
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whose result will be published
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find in the description below
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