EPF decision deferred

The Central Board of Trustees deferred the decision on the interest rate on Employment Provident Fund (EPF) accounts for the year 2007-08.

The Central Board of Trustees on Saturday deferred the decision on the interest rate on Employment Provident Fund (EPF) accounts for the year 2007-08, but expanded the coverage of the provident fund scheme to establishments with at least 10 people on its rolls.

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The unanimous decision of CBT at Saturday’s meeting to bring all establishments employing ten or more people under the EPF net will result in addition of 41 lakh more accounts to the EPF that has four crore subscribers now.