EPF interest set at 8.5% for FY06

The central government today set the interest rate for deposits of Employees Provident Fund (EPF) at 8.5% for the current financial year ending March 31, 2006.

"The subscribers of EPF are to get 8.5% interest on deposits for the year 2005/06," a government statement said today.

"A notification to this effect has been issued by the labour ministry today conveying the government's approval," the release added.