Provident fund interest calculation governs monthly balances, withdrawal claims, opt-out treatment, and inoperative accounts. Interest on provident fund member accounts is credited at the rate determined by the Central Government in consultation with the Central Board, on a monthly running balance basis with year-end calculation. The provision governs computation on opening balances, withdrawals, later credits, rounding, and withdrawal claims, and requires interest to continue up to final payment authorisation. It also addresses newly covered establishments, transferred past accumulations, debit to the Interest Account, opt-out by member, and exclusion of inoperative accounts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Provident fund interest calculation governs monthly balances, withdrawal claims, opt-out treatment, and inoperative accounts.
Interest on provident fund member accounts is credited at the rate determined by the Central Government in consultation with the Central Board, on a monthly running balance basis with year-end calculation. The provision governs computation on opening balances, withdrawals, later credits, rounding, and withdrawal claims, and requires interest to continue up to final payment authorisation. It also addresses newly covered establishments, transferred past accumulations, debit to the Interest Account, opt-out by member, and exclusion of inoperative accounts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
