Government retains EPF rate of interest at 8.5 pc

November 14th, 2007 - 2:35 am ICT by admin  
The EPF Central Board of Trustees, which met on July 23 to consider the proposal for determination of rate of interest payable to the members for the year 2006-07, had agreed to continue paying 8.5 percent interest rate.

The EPF Scheme requires that the interest shall be credited to the account of each member at such a rate as determined by the Central Government in consultation with the EPF Central Board of Trustees.

“All the RPFCs (Regional Provident Fund Commissioners) have been instructed to immediately give effect to the above and issue annual statement of accounts for the year 2006 at the earliest possible time,” a release from the Labour and Employment Ministry said today. (ANI)

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