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EPF interest rates hiked to 8.8%

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The Union finance ministry today agreed to hike interest rate on provident fund deposits to 8.8% from the 8.7% decided by it earlier.

The Central Board of Trustees (CBT) had decided 8.8% interest rate, however, the finance ministry approved only 8.7% interest on PF deposits citing lower earnings.

Several Central trade unions had strongly protested the finance ministry's move that would have affected over 5 crore subscribers of retirement body EPFO .

The Union labour ministry was pushing...

EPF interest rates hiked to 8.8%

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