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New Delhi, Mar 5: Retirement fund body EPFO on Thursday lowered interest rate on provident fund deposits to 8.5 per cent for the current financial year, said Labour Minister Santosh Gangwar on Thursday.

The EPFO had provided 8.65 per cent rate of interest on EPF for 2018-19 to its around six crore subscribers. The decision was taken at a meeting of the the Employees' Provident Fund Organisation's (EPFO) apex decision making body -- the Central Board of Trustee.

"The EPFO has decided to provide 8.5 per cent interest rate on EPF deposits for 2019-20 in the Central Board of Trustees (CBT) meeting today," Gangwar told reporters after the meeting here.

Now, the labour ministry requires the finance ministry's concurrence on the matter. Since the Government of India is the guarantor, the finance ministry has to vet the proposal for EPF interest rate to avoid any liability on account of shortfall in the EPFO income for a fiscal.

The finance ministry has been nudging the labour ministry for aligning the EPF interest rate with other small saving schemes run by the government like the public provident fund and post office saving schemes.

The EPFO had provided 8.65 per cent rate of interest to its subscribers for 2016-17 and 8.55 per cent in 2017-18. The rate of interest was slightly higher at 8.8 per cent in 2015-16.

It had given 8.75 per cent rate of interest in 2013-14 as well as 2014-15, higher than 8.5 per cent for 2012-13.

Kochi, Jan 22: The Left front government in Kerala on Monday decided to inform the Centre it would not cooperate with the updation of the NPR, saying there were fears among the public about the process and it has the "Constitutional responsibility" to alleviate them and ensure law and order.

A special cabinet meeting, chaired by Chief Minister Pinarayi Vijayan here, decided to inform the Registrar General and Census Commissioner under the Union Home Ministry that it was unable to cooperate with anything with regard to the updation of the NPR.

"The decision was taken as it was the Constitutional responsibility of the government to alleviate the fears of general public and ensure law and order situation in the state," a Chief Minister's Office release said.

However, the state would fully cooperate with the census procedures, it said.

The LDF government, which has been on a warpath against the Centre over the Citizenship Amendment Act, has last month stayed all activities related to updation of NPR, considering 'apprehensions' of public that it would lead to NRC in the wake of the controversial CAA.

"As the NPR is a process that leads to the National Register of Citizens (NRC), there is a sense of fear among the people that its implementation could lead to widespread insecurity", the CMO release said on Monday.

The experience of the state which had already compiled the NRC was an example for this, it added, in apparent reference to Assam.

Kerala had already stopped all procedures regarding the NPR updation, the release said adding there was also a report of the state police that the if the government went ahead with the procedures, it would adversely impact the law and order situation.

The district collectors have also informed the government that the Census procedures would be affected if the updation of the NPR was done along with it, the CMO release said.

The CPI(M)-led LDF government had recently convened a meeting of political parties and socio-religious organisations here on December 29 in the wake of the concerns among people in various stratas of the society, it said.

A special assembly session was convened and a resolution was passed requesting the Centre not to implement the CAA and the government had also approached the apex court against the law, it added.