EPFO may fix interest on PF in January

Based on the recommendations of the Central Board of Trustees, the finance ministry will approve the interest rate to be paid to EPF subscribers.

By: ENS Economic Bureau | New Delhi | Published: December 10, 2015 1:22 am

The Employees’ Provident Fund Organisation (EPFO) is likely to take a decision on interest rate for provident fund deposits for 2015-16 (Apr-Mar) at the next meeting of its Central Board of Trustees (CBT), Central Provident Commissioner KK Jalan said on Wednesday.

A meeting of the CBT was held on Wednesday to discuss cadre restructuring within the organisation. The next meeting is likely to be held in January. The EPFO has been providing 8.75 per cent interest rate for last two years. The EPFO is in discussion with the finance ministry regarding the interest rate. Based on the recommendations of the Central Board of Trustees, the finance ministry will approve the interest rate to be paid to EPF subscribers.

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