GOvt to decide soon on EFPO interest rate for 2011-12

Labour minister Mallikarjun Kharge today said here that Employee Provident Fund trustees would meet soon to discuss the interest rate for 2011-12 and appointment of fund managers.

“The PF trustees are meeting shortly; this month or next.

We will decide on so many things, investment, interest and administrative matters,” Kharge told reporters.

When asked whether the meeting would also discuss the appointment of fund managers for EPF, the Minister said, “everything.”

Kharge was speaking at foundation stone ceremony of ESIC Dental College and inauguration of ESIC Regional Office (New Building Complex) at Nacharam here.

Around 4.71 crore EPFO subscribers got 9.5 per cent interest for 2010.11.

Besides he said the Union Labour Ministry had started a new scheme, ?Rashtriya Swasth Bima Yojana?, which was useful particularly for BPL families.

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3. EPF the best risk-free tax savings option – Interest Rate increased to 9.50 PC
4. CBT may fix Interest rate at 8.50% on Employee Provident Fund for financial year 2010-11
5. Employees’ Provident Fund rate will not change in financial year 2009-2010