EPF RATE OF INTEREST FOR THE YEAR 2006-07

Ministry of Labour & Employment EPF RATE OF INTEREST FOR THE YEAR 2006-07 16:25 IST The Government has accorded its approval to notify the EPF rate of interest for the year 2006-07 as 8.5%.All the RPFCs have been instructed to immediately give effect to the above and issue annual statement of accounts for the year 2006 at the earliest possible time. The Chairman CBT, EPF and Minister of State( Independent Charge), Labour and Employment has directed that issue of annual accounts for the year 2006-07 is required to be done on war footing.The EPF(Employees’ Provident Fund) Scheme, 1952 requires that the interest shall be credited to the account of each member at such a rate as determined by the Central Government in consultation with the Central Board of Trustees(CBT).The CBT which met on the 23rd of July 2007 to consider the proposal for determination of rate of interest payable to the members for the year 2006-07 had recommended interest at 8.5%.