That head, however, does not provide any specific detail.This curious phenomenon is precisely what FinMin's questionnaire wants explained. The surplus would stand at Rs 771.37 crore if EPFO were to retain the earlier rate of 8.55 per cent. If in case EPFO opted for 8.7 per cent — a higher-than-recommended interest rate — it would cause a deficit of Rs 158 crore. Indian Express' queries to the ministry did not elicit any response, the report said.All calculations are correct, the story quoted an EPFO official as saying, who also said the method in question has been followed for two decades. About the speculated blow from IL&FS, the official acknowledged Finance ministry's questions but said it should not be worried since nothing has happened so far.

Source: Economic Times May 07, 2019 08:09 UTC