People's Democracy
(Weekly
Organ of the Communist Party of India (Marxist)
No. 50
December 11, 2005
(Weekly
Organ of the Communist Party of India (Marxist)
|
Vol.
XXIX
No. 50 December 11, 2005 |
EPF Rate: TUs Will Oppose Any Reduction
The secretariat of the CITU issued the following statement on December 8, 2005:
AT the meeting of the Trustees of the Central Board of the Employees’ Provident Fund, the decision on the interest rate was recorded as under:
"The EPFO proposed an interest rate of 8 per cent for 2005 – 06. The employees’ representatives in the CBT opposed the proposal.
The CBT authorised the chairman, CBT to take a decision on the rate of interest, keeping in view the concerns expressed by the employees’ representatives. The CBT also requested the chairman to seek the intervention of the prime minister to maintain the interest rate at 9.5 per cent, as obtaining for the year 2004–05".
In this backdrop, the announcement of any interest rate less than 9.5 per cent by the minister of labour is not befitting.
The CITU, along with other central trade unions, will firmly oppose any reduction in the rate of interest on EPF and will take the issue to the mass of the workers and continue the struggle outside the forum of the CBT, EPF.
