EPFO to decide PF interest rate for FY15 on 26 Aug

Retirement fund body EPFO is likely to announce rate of interest on PF deposits for the current fiscal for its over 5 crore subscribers at its trustees meet on 26 August.

The issue of payment of interest rate for 2014-15 is listed on the agenda of the next meeting of the Central Board of Trustees (CBT) which has been rescheduled for 26 August. The Employees' Provident Fund Organisation (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.

According to a senior official, the computation of the interest rate for the current fiscal would be a vexed issue this time as the new government has announced raising of wage ceiling from Rs 6,500 per month to Rs 15,000 per month.

However, the new wage ceiling has not been implemented so far as government is yet to issue a 

notification on this.