Union Labour Minister Bandaru Dattatreya has said that the Employees Provident Fund Organisation (EPFO) is likely to have a surplus of 1,600 crore rupees by the end of this year. Talking to media in Hyderabad yesterday, he said that at a time when interest rates in all banks are coming down, the EPFO gave an interest rate of 8.8 per cent. Despite that, there is likely to be a surplus of 680 crore rupees. He said there is a chance that it may go up to 1,600 crore rupees by this year end. Noting that the government is working on providing universal minimum wage, the minister said the statutory amendments need to be made to make it mandatory. There is no uniformity in minimum wages being paid in the country at present. He said, the government has held talks with trade unions and different ministries on providing universal minimum wage. The minister said the Labour Ministry will organise an exhibition and seminar on its achievements in Hydearbad today.