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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Additionally, the board recommended an 8.25% interest rate on Employees’ Provident Fund (EPF) deposits for FY 2024-25.
Key EDLI scheme enhancements
Minimum Insurance for Short Service Tenure: EPFO has introduced a minimum insurance benefit of ₹50,000 for members who die within their first year of service.
This will benefit over 5,000 families annually.
Coverage for non-contributory period: If a member dies within six months of their last contribution, their family will now be eligible for EDLI benefits, provided their name has not been struck off from the payroll. This revision will cover approximately 14,000 cases yearly.
Relaxation in service continuity rules: Previously, even a small gap between two employments led to the denial of EDLI benefits. Under the new rules, a break of up to two months between jobs will be considered continuous service.
This change is expected to benefit more than 1,000 families annually.
These modifications will enhance financial security for over 20,000 families every year, the PIB statement said.
EPF interest rate fixed at 8.25% for FY 2024-25
CBT has recommended an 8.25% annual interest rate for EPF subscribers.
This rate will be officially notified by the government before being credited to members’ accounts.
Other key decisions
Pension on Higher Wages (PoHW): EPFO has processed 72% of applications related to the Supreme Court’s ruling on higher pension eligibility.
Centralised Pension Payment System (CPPS): From January 2025, pension payments are being disbursed through a centralized account at SBI’s New Delhi branch, reducing delays for 69.35 lakh pensioners.
Reduced penalties for late PF payments: The penalty for late PF remittances has been standardised at 1% per month to reduce litigation.
Annual budget approval: The board also approved the revised budget estimates for 2024-25 and planned allocations for 2025-26.
First Published: Feb 28, 2025 3:58 PM IST
