The government will decide the interest rate on the country's largest pension fund scheme based on the rate of return on investments in the next financial year, Labour Minister Sahib Singh Verma said on Tuesday.

"The rate of interest of our fund is 9.5 per cent. In the next year, it will be based on the rate of return on our investment. We cannot stick (to a 9.5 per cent interest rate). We will make it totally, purely based on the rate of return on investment," Sahib Singh said.

The Employees Provident Fund is governed by a board of trustees headed by the labour minister which decides on the interest rate at the beginning of each financial year.

The board of trustees had last year rejected a finance ministry proposal to cut the interest rate to bring it into line with overall rates.

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What do you think about the story? Read what others have to say: Number of User Comments: 4 Sub: EPF Rates The government may brng its competence in the mis management of funds by introducing UTI or IFCI technology.It should give the option to employees and ... Posted by s mohan Sub: interest rate "respected representatives of the people of india" sir, as you know EPF\PPF is the only earned property of each & every employee of any ganisation\company ... Posted by ajay kanwar Sub: What is difference between other FI and this trust? atleast other FI we can trust If it depends on return on investment, we should able to challenge body / trust going to invest on our behalf. Today we dont bother. ... Posted by Ajay Chavan Sub: EPF RATE if epf rate is reduced then many people like me wud not be interested in keeping the money in EPF. rather i wud regularly withdraw ... Posted by Man