The government on Thursday assured that it will continue with the 9.5 per cent interest on Employees Provident Fund and said it was because of 'wise' investment decisions that it was able to offer such a rate.

"We will continue with the present rate (9.5 per cent). It is because the investment decisions were wise that we are still able to offer such a rate," Labour Minister Sahib Singh Verma told reporters in New Delhi after a board meeting of the Employees State Insurance Corporation.

Congratulating the officials of the Central Board of Trustees of Employees Provident Fund Organisation for their 'wise' investment decisions, he said, "Previously we had also given 12 per cent."

In the wake of falling interest rate regime, the finance ministry had asked the labour ministry to cut down the rate by 0.5 per cent after it realigned the rates of other savings instruments to the yields of government securities.

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What do you think about the story? Read what others have to say: Number of User Comments: 4 Sub: What a relief I am greatly relieved by this news. I am sure crores of people in the salaried class who depend on the EPF savings to fund ... Posted by Moses Elijah Sub: EPF INTEREST RATES It is an excellent decision taken, to continue the same interest rate in the interest of all the salaried class persons. The persons managing the ... Posted by RAJENDRA SHARDA Sub: re Don,t try to increase the rate. BUT PLEASE maintain the current interest rate of PF. Posted by akhil Sub: Appreciable Decision It has been a appreciable decision from labour ministry to keep the interest rate of PF at 9.50% inspite of pressure from Ministry of Finance. ... Posted by Naveen Gupta