The government does not propose to increase interest rates for Employee Provident Fund Organisation (EPFO) subscribers, Visnu Deo Sai, state minister for steel, mines, labour and employment informed the Lok Sabha through a written reply.

Retirement body EPFO provided 8.75% interest rate for 2013-14, which was an increase from 8.50% rate provided by the body in 2012-13.

There were reports that the EPFO will likely provide 9% interest rate for 2014-15, however, chief Provident Fund Commissioner KK Jalan had denied this, saying that this was not feasible.

"We have never calculated this. Overall, interest rates are going down; debt instruments are not earning that much. When the equity is up, debt instruments are usually down. So, I don't think we will be able to give that much," Jalan had said.