Govt hikes EPF rate to 9.5%

The Finance Minister announced that interest rate on Employees Provident Fund would be 9.5% for 2004-05.

Government on Wednesday decided to hike the interest rate on Employees Provident Fund to 9.5 per cent for 2004-05.

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This was announced by Finance Minister P Chidambaram after a meeting with Prime Minister Manmohan Singh in New Delhi.

This is one per cent higher than the interim rate of 8.5 per cent announced for 2004-05.