Invest funds for better returns: FM to EPFO

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Finance minister P Chidambaram has sought to suggest that the employees’ provident fund organisation may invest funds in high yielding instruments in order to provide better returns to its subscribers, who number over four crore. When asked whether there is a case for increasing the EPF rate in view of the rising inflation, he said that the government cannot increase the interest rates on special deposit schemes, where the bulk of the EPF funds are parked.