The rate of employee provident fund rate is 8.65% in the big step for the For Aam Aadmi.

The retirement fund organization EPFO ??or the provident fund organization of employees has increased the interest rate of the provident fund (EPF) to 8.65% for the current fiscal year (2018-1976) Press Press news agency India said in the report of the increase in EPF interest rates - from 8.55 percent in the financial year 2017-18 - expected to benefit sixty million rupees members of the provident fund project. (Read more: Want to check the online provident fund balance: 3 easy steps)

All members of the EPFO's Trustee Central Committee (CBT) agreed to give higher interest for members in the current fiscal year. Mr Gangwar quoted a quote from the agency. The proposal will go to the Ministry of Finance for approval. He said after the meeting of the Central Committee of the Commission.

The Central Committee (CBT) is headed by the Minister of Labor as the final decision-making unit of EPFO, which will summarize the interest rate applied to provident fund deposits (PF).

Once approved by the Central Committee, the proposal will be sent to the Ministry of Finance. After approval by the Ministry of Finance, interest rates approved will be transferred to the member's account.

For the fiscal year 2017-18, retirees have a fixed interest rate of 8.55 percent, which is the lowest interest rate in five years. It provides 8.8 percent interest to members for the fiscal year 2015-16.

The interest rate is 8.75 percent for the fiscal year 2013-2014 and 2014-15 and 8.5 percent for the year 2012-2013.