Provident Fund interest rate declared at 9.5% for 2010-11
21. Sep, 2010 
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Interestingly, it was an audit that revealed a hidden interest accrued due to a suspense account. This surplus amount accounted to Rs. 1730 crores and that was just enough to raise the that bar of the PF interest rate by 1% from 8.5% to the declared 9.5%.
This is the first time in the last 5 years that interest rate rose to 9.5%. Though this hike would benefit the common man, it has not excited the Labour Unions since they realize that this is only a temporary relief. The hike in the interest rate has not excited the Corporates operating a PF Trust either since they too will also have to match that rate 9.5% if they were hovering at any rate between 8.5 – 9.4%.
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