India, March 4 -- Despite the opposition, and a lower recommendation, the Employees' Provident Fund Organisation (EPFO) kept the interest rate on provident funds unchanged at 8.25 per cent. The board of trustees, which is chaired by the labour and employment minister, Mansukh Mandaviya, retained the same returns for the third year. The minister said that the decision will help almost 80 million people, which includes the beneficiaries that need the money to live better lives. Although an internal sub-committee of the EPFO wanted the rate to be reduced to 8.1 per cent, which received a nod from the finance ministry, the trade unions put pressure on the Government not to lower it.

Obviously, there are financial issues. In 2024-25, the EPFO...