Finance Ministry has approved 8.7 per cent interest on Provident Fund deposits for over five crore subscribers of Employee Provident Fund Organisation, EPFO for 2015-16. The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments. This information was given by Labour Minister Bandaru Dattatreya in the Lok Sabha. Employees representatives had demanded nine per cent rate of interest for the fiscal but the CBT at its meeting held on February 16 decided to provide an interim interest rate of 8.8 per cent for 2015-16.EPFO had provided 8.75 per cent rate of interest in 2013-14 and 2014-15, which was higher than 8.5 per cent in 2012-13 and 8.25 per cent in 2011-12.