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Our Bureau

New Delhi, Oct 21

Employees’ Provident Fund (EPF) scheme subscribers, numbering over four crore, are to earn 8.5 per cent interest on their deposits for 2006-07.

The Government has said that it has accorded approval to notify the EPF rate of interest for the year 2006-07 at 8.5 per cent.

For 2005-06 also, EPF subscribers were paid 8.5 per cent interest.

An official release said that all the regional provident fund commissioners have been instructed to immediately give effect to this decision and issue annual statement of accounts for the year 2006-07 at the earliest.

The EPF scheme stipulates that the interest should be credited to the account of each member at such a rate as determined by the Centre in consultation with the Central Board of Trustees (CBT).

The CBT had on July 23 recommended interest of 8.5 per cent to be payable to members for 2006-07.

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