The Employees' Provident Fund Organisation will discuss the interest rate on PF deposits at its trustees' meet on Tuesday.
The fund body is the custodian of the lifetime savings of over 50 million formal sector workers.
The fund's Central Board of Trustees (CBT) generally fixes the rate at the end of the fiscal. This year, the EPFO has broken with tradition to take up the issue earlier.
However, a decision may not come on Tuesday as the proposed interest rate may not be acceptable to union representatives. The EPFO's agenda note says that the CBT should either fix the rate at 8.7% or defer a decision till the last quarter of the financial year.
The interest on PF deposits was 8.75% in 2013-14 and 8.5% in 2012-13.
The CBT is headed by the labour and employment minister and includes minister of state for labour, the labour secretary, unionists, employers' representatives and other officers.
The fund body is the custodian of the lifetime savings of over 50 million formal sector workers.
The fund's Central Board of Trustees (CBT) generally fixes the rate at the end of the fiscal. This year, the EPFO has broken with tradition to take up the issue earlier.
However, a decision may not come on Tuesday as the proposed interest rate may not be acceptable to union representatives. The EPFO's agenda note says that the CBT should either fix the rate at 8.7% or defer a decision till the last quarter of the financial year.
The interest on PF deposits was 8.75% in 2013-14 and 8.5% in 2012-13.
The CBT is headed by the labour and employment minister and includes minister of state for labour, the labour secretary, unionists, employers' representatives and other officers.
Source:-The Economic Times
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