(a) whether the Employees Provident Fund interest rate for the year 2005-06 has been notified;
(b) if so, the details thereof;
(c) whether various trade unions in the country have been demanding for retention of the interest rate at 9.5 per cent; and
(d) if so, the Government’s response thereto?
MINISTER OF LABOUR AND EMPLOYMENT (SHRI K. CHANDRASEKHAR RAO)
(a) & (b): Yes, Sir. Central Government, under Para 60(1) of the Employees Provident Fund Scheme, 1952, have since notified the rate of interest @ 8.5% for the year 2005-06.
(c): Yes, Sir.
(d): The earnings of Employees Provident Fund Organisation cannot sustain the demand of 9.5% rate of interest for the year 2005-06.