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Employees Provident Fund may be increased to 8.6%

The Employees’ Provident Fund Organisation likely to fix the interest rate for last fiscal (2011-12) at 8.6%

As reported in the Media, Employees Provident Fund interest may be hiked to 8.6% for the year 2011-12 from 8.25% which was announced for the year 2010-11.

The Employees’ Provident Fund Organisation is managing a hefty corpus of around Rs.3.5 lakh crores.  Many of employees working in Private Sector are covered in EPF

Source: Indian Express