Retirement fund body EPFO is likely to pay an interest rate
of 8.5 per cent on provident fund deposits for 2013-14 to its over five crore
subscribers, the same as provided in 2012-13.
As per the practice, the EPFO would have to place the
proposal before its advisory body Finance and Investment Committee (FIC) after
which it is considered by the apex decision making body Central Board of
Trustees (CBT)headed by the Labour Minister for taking final call on the
matter.
As per the 2008-Investment Pattern adopted by the EPFO, the
body can invest up to 55 per cent of its huge corpus of over Rs 5 lakh crore in
the state and central securities.
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