EPF rate to remain unchanged at 8.5%

The central board of trustees of Employee Provident Fund (EPF) today decided to retain the interest rate for employees' PF for the fiscal year 2007-08 at 8.5%.

After a three-hour meeting of the trustees, CITU general secretary Tapan Sen said the meeting decided to continue with 8.5% for 2007-08 ignoring the demands by trade unions to hike the interest rate to 9.5%.