The Finance Ministry has approved higher interest of 9.5 per cent for depositors with the Employees' Provident Fund Organisation for the year 2010-11. A recommendation to this effect was made by the EPF Board earlier. The Central Provident Fund Commissioner Samirendra Chatterjee said in New Delhi that Finance Ministry ratified the proposal of the board which will benefit 4.7 crore people. The Employees Provident Fund Organisation had been paying 8.5 per cent interest on the PF since 2005-06.