June 25, 2013

EPFO to keep interest rate on PF unchanged at 8.5% in 2013-14.

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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