NEW DELHI: Retirement
fund body EPFO's trustees on Tuesday decided to retain interest payment
on provident fund deposits for 2014-15 at 8.75 per cent.
"It has been decided to
pay 8.75 per cent interest in the current fiscal," Central Provident
Fund Commissioner (CPFC) K K Jalan told PTI after the meeting of the
Central Board of Trustees (CBT), the apex decision making body of the
Employees' Provident Fund Organization (EPFO).
The EPFO has about 5 crore subscribers and the decision will have a bearing on their retirement fund.
The decision to retain
the interest rate on the provident fund deposits at last year's level
was taken despite some protest by the trade union members of the CBT,
sources said.
The final notification for payment of the interest rate for the current fiscal will be issued by the finance ministry later.
The EPFO had provided
8.75 per cent rate of interest on PF deposits for 2013-14, which was
higher than 8.5 per cent paid for the previous fiscal.
Source : TOI
