New Delhi: Employees Provident Fund (EPF) investors may have to wait for the Union Budget next month to know if the 9.5 per cent interest will be continued as the PF trustees are likely to meet in July.

While trade unions have demanded continuation of the present rate of interest if not more, the Central Board of Trustees (CBT) would have to evaluate the budgetary provisions and await the response from the Finance Ministry before they take a decision on the rate of return for this year.

As such, CBT would be under pressure to sustain the present rate of interest as it gave half a per cent bonus over 9.0 per cent returns fixed by the Government last year and the extra outgo had to be borne out of the reserves accruing from interest income.

Since the decision to give Golden Jubilee bonus was only for 2003-04, Labour Minister Sis Ram Ola will have to strike a balance between the rate of return on investments made by EPFO (Employees Provident Fund Organisation) that have come down substantially and sensitivity of UPA (United Progressive Alliance) constituents and supporting parties like CPM (Communist Party Marxist) and CPI (Communist Party of India).

With 60-plus MPs, Left parties, mainly CPM and CPI, have said there cannot be any compromise on lower returns for PF subscribers since it was the legitimate right of workers.

CPM-affiliated Centre of Indian Trade Unions and CPI backed All India Trade Union Congress have now found their way to the CBT after reportedly being denied a berth when Sahib Singh Verma was the Labour Minister.

CITU (Centre of Indian Trade Unions) has asked the Government to hike the interest to PF subscribers, which are mainly the organised sector workers, to 12 per cent, the level prevailing four years ago.