EPF Board to decide interest rate on May 27 : Fernandes

New Delhi, May 24 (UNI) The Employees Provident Fund (EPF) Board will meet on May 27 to consider the rate of interest to be paid to the EPF subscribers for 2005-06 and 2006-07, Union Labour Minister Oscar Fernandes said here today.

Asked if the Board will consider labour demand for hiking the interest rate, the minister said ''all i can say at this stage is what is available is divisible''. It is a difficult task, he added without referring to the Left parties' demand of hiking the interest rate to nine per cent.

He said the government had proposed to raise the ceiling on bonus to Rs 10,000 from the present Rs 6,500 at the trilateral meeting of employers and state governments.The employers have not opposed this proposal, he added.

The Ministry had proposed to increase the maternity allowance to the labour from Rs 250 to Rs 1000 in the bill pending in the Parliament.

To a question about the constitution of the Wage Board for the Journalists and Non-Journalists, the minister said it was sent to the Ministry of Law and Justice and was expected to be published very soon.

UNI