Retirement fund body Employees' Provident Fund Organisation's (EPFO) apex decision making body Central Board of Trustees (CBT) is likely to decide rate of interest on Provident Fund (PF) deposits for 2012 - 13 in its meeting scheduled on January 15, 2013.
EPFO trustee may consider the proposal for deciding the rate of interest on PF deposits in its meeting on January 15, 2013. EPFO has also issued a notice that the 201st meeting of the Central Board of Trustees (EPF) has been scheduled to be held on January 15 (Tuesday), 2013 in Mumbai.
As per the practise after the CBT, headed by the Labour Minister, decides the rate of interest for a fiscal, it is sent to the Finance Ministry for concurrence. According to the sources, the preliminary estimates of EPFO indicate that the body would neither have surplus nor have deficit if it pays 8.6 per cent rate of interest to its over 5 crore subscribers.
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