(ET)
Provident fund subscribers are likely to get a lower rate of interest on their retirement corpus this fiscal year, but a senior official said the total returns would be on a par with or more than last time as they stand to gain from the fund’s move to unitise its equity investment.
The central board of trustees of the Employees’ Provident Fund Organisation will meet on November 23 to consider an 8.5 per cent interest rate for fiscal 2017-18, the official saidLast year, the fund had paid 8.65 per cent . At the meeting, the board will also give its go-ahead for unitisation of EPFO’s investment in equities, the official said, speaking on the condition of anonymity.
