New Delhi, February 2
On the eve of Assembly elections in the three states of Haryana, Bihar and Jharkhand, the Congress-led UPA Government tonight decided to hike the interest rate of Employees Provident Fund to 9.5 per cent for 2004-05.
This was announced by Finance Minister P. Chidambaram after a meeting with Prime Minister Manmohan Singh here.
This is 1 per cent higher than the interim rate of 8.5 per cent announced for 2004-05.
The Finance Minister said, “The Prime Minister Manmohan Singh has considered the matter carefully and decided that the 2002-03, 2003-04 and 2004-05, the EPF interest will be 9.5 per cent.”
