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EPFO to pay 8.5% interest on PF deposits for 2012-13

Under, 2008 investment pattern norms, the Employees' Provident Fund Organisation (EPFO) will have greater flexibility to park its surplus funds in long-term debt instruments and certificate of deposits of PSU banks.

EPFO may decide to pay 8.5% rate for 2012-13 on Monday

EPFO's trustees are likely to decide on Monday the payment of 8.5 percent interest to its over five crore subscribers on their PF deposits for 2012-13, higher than 8.25 percent provided in the previous fiscal.