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EPFO decides 8.5% interest rate on PF

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    • Agencies Tags : Employees Provident Fund Organisation, interest rate Posted: Saturday , Jul 04, 2009 at 1359 hrs New Delhi:
    EPFO
    The EPFO decided to give 8.5 per cent interest on provident fund deposits of 4.5 crore subscribers.

    The Employees' Provident Fund Organisation (EPFO) decided to give 8.5 per cent interest on provident fund deposits of 4.5 crore subscribers.

    The decision to recommend 8.5 per cent interest rate, the same as the last fiscal, to the Finance Ministry was taken by EPFO's Central Board of Trustees (CBT).

    The CBT, the apex policy making body of EPFO, decided to retain the interest rate at the existing level at a meeting which was chaired by Union Labour Minister M Mallikarjun Kharge.

    Payment of 8.5 per cent interest rate on provident fund deposits, which are of the order of Rs 1.82 crore, is expected to leave a surplus of Rs 6.4 crore during the current fiscal.

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