The trustees of retirement funds belonging to about eight crore depositors has decided to retain the interest rate at 8.75 per cent for 2014-15, according to sources. In January this year, the trustees had raised the interest rate for 2013-14 to 8.75 per cent, from 8.5 per cent in 2012-13.
The decision was taken after a meeting of the tripartite Central Board of Trustees of the Employees Provident Fund Organisation (EPFO), chaired by Labour Minister Bandaru Dattatreya, here on Friday.
The decision by the trustees will now be forwarded to the Finance Ministry for clearance, after which it will be notified.
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