Govt hikes EPF interest rate to 8.8%
The government on Friday hiked Employee Provident Fund (EPF) interest rates to 8.8% from 8.7% amid nation-wide protests from trade unions. The Central Board of Trustees, headed by the Labour Minister, had in February decided to provide 8.8% interest rate to over 5 crore subscribers for 2015-16, before the Finance Ministry earlier this month decided to ratify 8.7% interest rate.