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AITUC seeks labour minister’s help in PF

AITUC seeks labour minister’s help in PF
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Irked by EPFO's indecision on interest rate, All India Trade Union Congress has sought Labour Minister's intervention in fixing rate for 2012-13 on provident fund of over 5 million subscribers.

In the absence any prescribed interest for this fiscal by EPFO, the claims are being settled at 8.25 per cent, the interest rate for 2011-12.

The Employees' Provident Fund Organisation [EPFO] had slashed the rate of return to 8.25 for last fiscal from 9.5 provided in the 2010-11.

‘Interest rate fixation for 2012-13, it appears, has not been put on agenda before the Central Board of Trustees [CBT] up till now... I would request you to kindly cause suitable action to be taken for deciding the EPF rate of interest for 2012-13,’ All India Trade Union Congress [AITUC] General Secretary, Gurudas Das Gupta has said in a letter to Labour Minister Mallikarjun Kharge.
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