The Central Board of Trustees -- the apex decision-making body of the Employees' Provident Fund Organisation (EPFO) -- had approved 8.65 per cent interest rate for the last fiscal on February 21 this year.
The proposal was sent for the concurrence of the finance ministry, and the labour ministry was waiting for its approval.
On the delay in notifying EPF interest rate, the minister had said, "Finance Minister (Nirmala Sitharaman) is busy these days. She has the file (proposal for EPF interest rate for 2018-19). She does not disagree on this. The 8.65 per cent rate of interest approved by us would be provided to EPFO subscribers for 2018-19. It should be done in few days".
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