This fiscal’s EPFO interest may be more than 8.5 per cent
10 Oct 2013 10:48 PM GMT
Retirement fund body EPFO may announce a higher interest rate on provident fund deposits for its over 5 crore subscribers in the current fiscal than the 8.5 per cent that was provided in 2012-13.
‘The rate of return on PF deposit for Employees' Provident Fund Organisation (EPFO) subscribers for this fiscal would be slightly higher than 8.5 per cent provided last year,’ a source said.
He said an interest rate slightly higher than 8.5 per cent would leave no deficit and no surplus for EPFO. EPFO had paid 8.5 per cent interest rate to subscribers in 2012-13, which was higher than 8.25 provided in the FY12.
It had paid a 9.5 per cent rate of return for 2010-11 when it found over Rs 1,761 crore in its books of accounts.
‘The rate of return on PF deposit for Employees' Provident Fund Organisation (EPFO) subscribers for this fiscal would be slightly higher than 8.5 per cent provided last year,’ a source said.
He said an interest rate slightly higher than 8.5 per cent would leave no deficit and no surplus for EPFO. EPFO had paid 8.5 per cent interest rate to subscribers in 2012-13, which was higher than 8.25 provided in the FY12.
It had paid a 9.5 per cent rate of return for 2010-11 when it found over Rs 1,761 crore in its books of accounts.
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