New Delhi: A Parliamentary committee has strongly recommended that "status quo" be maintained by the Government in the EPF (Employees Provident Fund) interest rate at 9.5 per cent till a final decision was taken on the matter.

"While taking a final decision in the matter, the interests of subscribers should be safeguarded. Till such time the status quo in the rate of interest may be maintained," the Standing Committee on Labour said in its first report.

On the recommendation of 8.5 per cent interim rate of interest by the Central Board of Trustees of the Employees Provident Fund Organisation (EPFO) on August 9, 2004, the Committee expressed its "deep concern on the lowering of rate of interest which is affecting nearly four crore subscribers".

The Committee, in its 63-page report tabled in Parliament said that on important issues concerning workers, the decision should always be taken by consensus.