India, Feb. 28 -- The Employees' Provident Fund Organisation (EPFO), the state-run retirement fund manager, has decided to maintain the interest rate on provident-fund deposits for 2024-25 at 8.25%, keeping the widely watched metric of middle-class savings unchanged despite global financial uncertainties.

Provident funds provide retirement income and a financial safety net for nearly 70-million salaried Indians. It is often the key corpus of lifetime savings for the working people.

The central board of trustees of the EPFO, in a crucial meet on Friday, discussed the financial investments and projected returns of the fund manager during the rate-setting meet. Union labour minister Mansukh Mandaviya chaired the board's meeting, which has ...