Date:15/07/2005 URL: http://www.thehindubusinessline.com/2005/07/15/stories/2005071502610300.htm

Back CBT meeting on July 30 to fix PF interest rate

Our Bureau

New Delhi , July 14

THE Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) will meet on July 30 to decide the interest rate payable to provident fund subscribers for fiscal 2005-06.

Last year, the Board had made a final recommendation for paying 9.5 per cent for which the organisation had to dip into its reserves. However, the Government is yet to notify last year's interest payment as a result of which the interest has not yet been credited to the subscribers' individual accounts.

The board will also deliberate on ways to bridge the valuation deficit in the Employees Pension Scheme (EPS) run by the EPFO.