EPFO decides 8.5pc interest rate on PF for 2009-10 | india | Hindustan Times
Today in New Delhi, India
Dec 04, 2016-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

EPFO decides 8.5pc interest rate on PF for 2009-10

india Updated: Jul 04, 2009 16:00 IST

PTI
Highlight Story

The Employees' Provident Fund Organisation (EPFO) on Saturday 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 lakh crore (rpt) Rs 1.82 lakh crore, is expected to leave a surplus of Rs 6.4 crore (rpt) Rs 6.4 crore during the current fiscal.