No disagreement with finance ministry on 8.55% EPF rate: Labour minister

EPF interest rate to be ratified by May or June 2018

by Natasha Nadkar

There is no disagreement with the ministry of finance on providing 8.55 per cent interest rate for 2017-18 to over 50 million subscribers of Employees’ Provident Fund Organisation (EPFO), according to the labour minister Santosh Gangwar. In February 2018, the central board of trustees of the EPFO had recommended an 8.55 per cent interest rate for 2017-18 [see here]. The labour minister stated that the ministry of finance can provide suggestion on EPFO’s proposal. The proposed interest rate will be ratified by May or June 2018 as per convention. He further said that there is no proposal from the ministry of labour & employment to enhance minimum monthly pension under the Employees’ Pension Scheme 1995 [see here].

References
1. http://www.business-standard.com/article/economy-policy/no-disagreement-with-finmin-on-8-55-interest-on-epf-says-labour-minister-118041500151_1.html
CMIE STATISTICS
Unemployment Rate
Per cent
5.5 +0.1
Consumer Sentiments Index
Base September-December 2015
96.1 +0.6
Consumer Expectations Index
Base September-December 2015
96.5 +0.6
Current Economic Conditions Index
Base September-December 2015
95.5 +0.5
Quarterly CapeEx Aggregates
(Rs.trillion) Sep 17 Dec 17 Mar 18 Jun 18
New projects 1.26 1.49 3.43 2.27
Completed projects 1.25 1.16 1.43 0.82
Stalled projects 0.69 0.88 3.41 0.30
Revived projects 0.34 0.24 0.26 0.22
Implementation stalled projects 0.78 0.71 1.92 0.03
Updated on: 22 Jul 2018 8:20PM
Quarterly Financials of Listed Companies
(% change) Sep 17 Dec 17 Mar 18 Jun 18
All listed Companies
 Income 7.9 12.0 10.0 18.9
 Expenses 9.0 13.0 16.8 20.7
 Net profit -18.0 -14.3 -82.1 11.9
 PAT margin (%) 5.5 4.8 1.2 14.9
 Count of Cos. 4,502 4,493 4,288 134
Non-financial Companies
 Income 8.2 13.3 11.5 18.6
 Expenses 8.1 12.3 12.4 21.4
 Net profit -6.1 13.2 -2.6 7.5
 PAT margin (%) 6.2 6.4 6.5 14.4
 Net fixed assets 9.2 11.9
 Current assets 2.9 8.0
 Current liabilities 11.0 10.3
 Borrowings 3.4 1.8
 Reserves & surplus 7.9 7.8
 Count of Cos. 3,461 3,464 3,319 99
Numbers are net of P&E
Updated on: 22 Jul 2018 8:20PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.6 1.8 5.9 11.6
 Expenses 5.7 1.9 5.9 16.1
 Net profit 0.1 -9.7 25.3 -43.1
 PAT margin (%) 3.0 2.8 3.4 4.3
 Assets 9.5 10.2 7.4 14.3
 Net worth 8.5 11.3 7.6 13.7
 RONW (%) 5.8 4.9 5.8 5.3
 Count of Cos. 26,129 24,412 21,971 368
Non-financial Companies
 Income 4.9 1.0 5.7 9.9
 Expenses 5.0 0.3 6.1 9.2
 Net profit -8.6 19.9 20.2 8.9
 PAT margin (%) 2.0 2.4 3.0 12.1
 Net fixed assets 13.3 17.8 6.6 55.5
 Net worth 7.0 12.1 6.5 10.3
 RONW (%) 4.6 5.1 5.9 15.0
 Debt / Equity (times) 1.1 1.1 1.0 0.3
 Interest cover (times) 1.9 1.9 2.1 8.8
 Net working capital cycle (days) 66 65 62 7
 Count of Cos. 21,306 20,431 18,292 255
Numbers are net of P&E
Updated on: 20 Jul 2018 4:05PM