EPFO may increase interest rate to 8.5% for 2013-14

10 Sep

Retirement fund body EPFO is likely to announce an interest rate of 8.5 percent on provident fund deposits for 2013-14 to it’s over five crore subscribers, the same as provided for last fiscal.

 

According to sources, the preliminary estimates indicate that the payment of 8.5 percent rate of interest will leave no deficit for the Employees’ Provident Fund Organization (EPFO) and could rather leave some surplus for the body.

 

EPFO paid 8.5 percent interest rate to its subscribers in 2012-13, which was higher than 8.25 provided in the 2011-12 fiscal.

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