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The Central Board of Trustees of the Employees Provident fund is meeting on 21st February 2005 to consider among other things recent developments regarding the rate of interest to the EPF subscribers. The government has decided to give the interest rate @ 9.5% on the deposits of the Employees Provident Fund subscribers for 2002-03, 2003-04 and 2004-05. The Labour Ministry will issue the notification to this effect.
The rate of interest for various provident funds on SDS rates have been as follows since 1983-84.
Financial Year
Rate of Int.under EPF scheme
Rate of Int. under GPF
Rate of Int. under PPF**
Rate of Int. on SDS deposits
1983-84
9.15%
9.5% on first Rs. 40,000/- and 9% on the balance
9.5%
11%
1984-85
9.90%
10%
10%
11%
1985-86
10.15%
10.5%
12%
11.5%
1986-87
11%
12%
12%
12%
1987-88
11.50%
12%
12%
12%
1988-89
11.80%
12%
12%
12%
1989-90
12%
12%
12%
12%
1990-91
12%
12%
12%
12%
1991-92
12%
12%
12%
12%
1992-93
12%
12%
12%
12%
1993-94
12%
12%
12%
12%
1994-95
12%
12%
12%
12%
1995-96
12%
12%
12%
12%
1996-97
12%
12%
12%
12%
1997-98
12%
12%
12%
12%
1998-99
12%
12%
12%
12%
1999-2000
12%
12%
12% (1.4.99 to 14.1.99)
11% (15.1.2000 to 31.3.2000)
12%
2000-01
12% (1.4.2000 to 30.6.2000)
11%
11% (1.4.2000 to 28.2.2001)
9.5% (1.3.2001 to 31.3.2001)
11%
2001-02
9.5%
9.5%
9.5%
9.5%
2002-03
9.5%***
9%
9%
9%
2003-04
9.5%***
8%
8%
8%
2004-05
9.5%@
8%
8%
8%
* Source : GPF rules (Swamy’s compilation)
** Source: SBI, Parliament Street, New Delhi
***Recommended by CBT, EPF and approved by Government.
@ Approved by Government (8.5% recommended by CBT as interim rate)
MLD/UB….backgrounder-EPFO-Feb-9
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