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This is an archive article published on December 20, 2005
AITUC to stage nationwide protest over EPF rate today
The All India Trade Union Congress (AITUC) will stage a nationwide protest tomorrow, demanding the restoration of 9.5 per cent rate of inter...
1 min read
The All India Trade Union Congress (AITUC) will stage a nationwide protest tomorrow, demanding the restoration of 9.5 per cent rate of interest on EPF.
The protest will be held in all EPF offices but there will be no stoppage of work. The government reduced the interest on EPF to 8.5 per cent for 2005-2006, despite opposition by trade unions.
AITUC leader H Mahadevan said the government has declared that even for meeting this 8.5 per cent the deficit amount of Rs 370 crore will have to be met by the EPF board and no budgetary support will be given. ‘‘To enhance the rate of interest on the Special Deposit Scheme as well as on government bonds so as to ensure that the rate of interest is not reduced further,’’ he said.
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