EPFO likely to announce 9% interest on PF deposits on February 16

NEW DELHI: Retirement fund body EPFO may announce 9 per cent interest rate on PF deposits for 2015-16 in its trustees' meet on February 16, higher than 8.75 per cent provided in previous two financial years.

"The 211th meeting of the Central Board of Trustees (CBT) has been scheduled to be held on February 16, 2016 in Chennai," an EPFO circular stated.

According to the circular, the issues to be placed for consideration of the CBT include rate of interest to be credited to EPFO members' account for the year 2015-16, cadre restructuring of the body and annual accounts in respect of EPF Scheme 1952, EPS 1995 and EDLI Scheme 1976 for the year 2014-15.

Earlier, the Employees' Provident Fund Organisation's (EPFO) advisory body had recommended 8.95 per cent rate of interest for the current fiscal which is higher than 8.75 per cent provided in 2013-14 and 2015-16.

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