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EPF rate: Decision hangs in limbo

November 07, 2006
Source:PTI

On Tuesday, the Central Board of Trustees of the Employees Provident Fund Organisation deferred a decision on fixing interest rate to be given to its subscribers for 2006-07.

"Members representing employers, employees and the government expressed their views. The Board decided that the details of income and funds may be re-examined to find out if any distributable surplus was available," Labour Minister Oscar Fernandes told reporters in New Delhi.

The issue would be taken up again in the next meeting to be held in December, he said, adding "we would like to arrive at a decision on EPF rate at the next meeting".

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Source: PTI
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