Government
decides to pay 8.75% interest on PF for 2014-15
Over five crore
provident fund subscribers governed by the EPFO will
get 8.75 per cent interest on their deposits for the current fiscal.
The Finance Ministry
has ratified the rate for 2014-15, after a decision was taken to retain the
interest payout at this level by the Central Board of Trustees of the
Employees' Provident Fund Organisation, sources said.
As per the practice,
EPFO trustees' decision gets implemented after the concurrence of the Finance
Ministry.
Following the
ratification by the Finance Ministry, the decision would now be notified by the
Labour Ministry as also by the Income Tax Department.
Source:-The Economic
Times
