EPF hike under EC scanner

The UPA government8217;s decision to raise the Employees8217; Provident Fund interest rate from 8.5 per cent to 9.5 per cent yesterday, 24 hours before polls in three states, has come under the Election Commission scanner.

The EC is learnt to have written to the Cabinet Secretary today, seeking details on what forced the government to make the announcement ahead of Assembly elections. Asked whether the hike may be treated as a poll code violation, EC spokesperson A N Jha said: 8216;8216;We have sought facts from the government. Once we receive the details, the Commission will take a view on the matter.8217;8217;

The EPF rate hike is expected to benefit four crore subscribers and is largely seen as a trade-off with the Left, with the UPA getting to hike FDI in telecom.