Employees Provident Fund Organisation (EPFO) may lower rate on provident fund (PF) deposits in FY12 to 8.25%

RETIREMENT fund body Employees' Provident Fund Organisation (EPFO) has recommended a cut in interest rate on provident fund deposits to 8.25 per cent for 2011-12 from 9.5 per cent in the past financial year.

It is observed that the 8.25 per cent rate of interest is feasible (in 201112), said the agenda note for the meeting of finance and investment committee, the EPFO advisory body. The meeting is scheduled for December 22.

The decision will have implications for over 4.72 crore Employees' Provident Fund Organisation subscribers across the country.

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