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The Finance Ministry has approved payment of 8.5 per cent rate interest for 2012-13, up from 8.25 per cent in the previous fiscal, benefiting over five crore EPFO subscribers.
“Finance Ministry has notified 8.5 per cent interest rate for 2012-13. It will be implemented with immediate effect,” EPFO’s Central Provident Fund Commissioner Anil Swarup told PTI.
The notification, he further said, “will enable EPFO to settle claims at 8.5 per cent and also credit interest into the accounts of subscribers for 2012-13”.
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