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The rate of interest on provident funds for 2011-12 is to be recommended by the Central Board of Trustees of the Employees' Provident Fund Organisation, after taking into account the estimated interest income and liability on interest payments to members.
This information was given by the Minister for Labour and Employment, Mr Mallikarjun Kharge, in the Lok Sabha, in answer to a question regarding media reports of a decrease in PF interest rates.
Mr Kharge said actual details of expenditure for 2011-12 would be arrived at only after updation of all annual accounts of 2010-11.
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