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Interest rate on Provident Fund deposits raised to 8.75%

New Delhi, Jan 13, 2014

The Employees Provident Fund Organisation decided to increase the interest rate on Provident Fund deposits for 2013-14 to 8.75%.

This is an improvement of 0.25% over the 8.5% interest rate paid last year.

The announcement made by labour minister Oscar Fernandes after a meeting on Monday will benefit close to eight crore subscribers.

EPFO fixes the rate based on the interest earned on its investment and its expenses.

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