Retirement fund body EPFO may announce higher interest rate on provident fund deposits for its above 5 crore subscribers in the current fiscal than 8.5 per cent that was provided in 2012 -13.
“The rate of return on PF deposit for Employees’ Provident Fund Organisation subscribers for this fiscal would be slightly higher than 8.5% provided last year,” a source said.
He said payment of interest rate slightly higher than 8.5% will leave no deficit and no surplus for EPFO.
EPFO had paid 8.5% to subscribers in 2012-13, which was higher than 8.25% provided in 2011-12. It had paid 9.5% for 2010-11 when it found over Rs 1,761 crore in its books of accounts.
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