EPF interest rate maintained at 8.5 percent

Thursday, 24 January 2008, 08:00 Hrs
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New Delhi: The interest rate of the Employees Provident Fund (EPF), the pension fund for all government employees, has been maintained at 8.5 percent for 2007-08, it was decided Thursday.

The Central Board of Trustees (EPF), after considering the issue at its meeting here, noted "an interest rate of 8.5 percent can be declared as a sustainable rate", an official statement said.

Some members reiterated their demand for raising the rate to 9.5 percent but the board after considering all aspects decided to recommend to the government 8.5 percent as rate of interest for 2007-08, it said.
Source: IANS
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