New Delhi, April 2 -- The Employees' Provident Fund (EPF) has always been a key instrument for retirement and wealth preservation in India, especially due to the assured returns it offers to lakhs of subscribers.

Over the last few decades, the applicable interest rate on EPF has fluctuated and evolved due to changing national economic conditions, peaking at 12% in the 1980s and 1990s. The EPF interest rate currently hovers at around 8-8.5%.

Against this backdrop, recently, Vijay Vasanth, Member of Parliament (Lok Sabha), raised a question in the House on whether the applicable EPF interest rate can be increased to 10%.

On this, Shobha Karandlaje, Minister of State for Labour and Employment, clarified that no formal requests have been r...