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NEW DELHI: The Employees' Provident Fund Organisation (EPFO) on Saturday decided on 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 in the last fiscal, to the finance ministry was taken by EPFO's Central Board of Trustees (CBT) at their meeting today. 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 the Union Labour Minister, Mr 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, is expected to leave a surplus of Rs 6.4 crore during the current fiscal. - PTI

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