EPF Board to meet tomorrow; to evolve consensus on interest rate

New Delhi, Dec 6 (UNI) The Employee Provident Fund (EPF) Board will meet tomorrow to evolve a consensus on the interest rate on EPF for the year 2006-07.

At present, the interim rate of EPF is 8.5 per cent.

The meeting of the 40-member board will be presided by Labour Minister Oscar Fernandes.

A discussion on rationalisation of provision of the Act pertaining to withdrawal of money by employees will also take place at the meeting.

Budget estimates for the year 2007-08 and the annual report on provident fund for the year 2005-06 are also likely to be approved by the Employee Provident Fund Organisation.

The board, in its last meeting on November 7, could not take any decision on the EPF rates as the worker's representatives had urged the Labour Minister to present their case to Prime Minister Manmohan Singh. However, till now, ''we have not received any information whether the minster has met the Prime Minster or not,'' said All India Trade Union Congress Secretary D L Suchdeva.

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