8.5 per cent on PF deposits expected, EPFO board meeting likely on October 4

The reconstituted EPFO's Central Board of Trustees (CBT), which has to take a call on interest rate on PF deposits for the current fiscal, is likely to hold its first meeting on October 4. The meeting of the CBT headed by the Labour Minister is likely to be called on October 4 for reconstituting EPFO's sub-panels like its advisory body Finance and Investment Committee (FIC), an Employees' Provident Fund Organisation's (EPFO) official said.

As per the practice, FIC vets financial proposals of EPFO and puts those before the CBT for a final call. The committee is supposed to vet and put forward the proposal for providing a rate of interest on PF deposits every year.