NEW DELHI: Brushing aside apprehensions, retirement fund manager EPFO on Wednesday said PF trusts which set up by corporates can pay a higher interest rate of 9.5 per cent for 2010-11 as they may also have surplus in their accounts.

“The recognised provident funds (PF) would not find any difficulty in paying 9.5 per cent rate of return to its depositors as they follow the same cash accounting system followed by EPFO,” Central Provident Fund Commissioner, Mr Samirendra Chatterjee said.
“We found surplus of ` 1,731.57 crore when we analysed the accounts on accrual-based system. Similarly, they (exempted funds) would also find surplus following the same accounting method,” he added.
Earlier on September 15, EPFO’s Trustees raised interest rate on provident fund deposits to 9.5 per cent for 2010-11 benefiting nearly 4.71 crore employees of both public and private sectors.