Employees Provident Fund Organisation (EPFO) raised the provident fund interest rate to 9.5% for the financial year 2011. Nearly 5 crore employees both from private and public sector will be benefited from this decision. It has been 8.5% now and increased 1%. All contribution for the next financial year will earn 9.5% interest rate.
“We have decided to give 9.5 per cent rate of interest to subscribers during the current financial year on their contributions. For over four crore subscribers this is a big gift from EPFO Trustees,†the labour minister, Mr Mallikarjun Kharge, said.
