The decision was taken at the meeting of the Central Board of Trustees (CBT), the highest decision making body of the Employees' Provident Fund Organisation (EPFO). The meeting was chaired by the labour minister.
"A decision has been taken to pay 8.5 per cent interest on PF deposits, but we have expressed our reservations as we wanted higher interest rate," said D L Sachdev, Secretary All India Trade Union Congress (AITUC) after the CBT meeting.
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