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Government approves 8.75% interest rate on Provident Fund for 2014-15

The finance ministry has ratified the Employee Provident Fund Organisation's decision to retain interest rate on PF deposits at 8.75%, benefiting over five crore people. The central board of trustees of the Employee Provident Fund Organisation had earlier decided to retain the interest rates at the previous year's level. 

However, the government's keenness on attracting a portion of the EPFO's Rs 6.5 lakh crore corpus into equity and housing infrastructure finance companies may have to  .. wait as the EPFO trustees board on Friday decided to set up an expert committee to look into the matter. 

"We have decided to set up an expert committee that will evaluate several investment instruments, including investment in equity and housing infrastructure finance companies," said Labour Minister Bandaru Dattatreya, who is also chairman of EPFO central board of trustees (CBT). 

The committee, which will be set up following a directiv .. 


Government approves 8.75% interest rate on Provident Fund for 2014-15 Reviewed by sambasivan srinivasan on 9:22:00 PM Rating: 5

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