In a major decision taken by theCentral Board of Trustees (CBT) of the Employees Provident Fund Organization (EPFO),
it was decided to hike the interest paid on provident fund balances of 4.71 crore subscribers. The hike of 1 percent from 8.5 percent to 9.5 percent will be applicable for the current year 2010-11. The decision is likely to be notified by the Ministry of Finance soon. This hike is the highest in the last five years.