New Delhi: Attacking the Narendra Modi-led government over the change in EPFO rules, the Opposition on Wednesday alleged that salaried people are being punished for the Modi government’s “mishandling of the economy” and urged Labour and Employment Minister Mansukh Mandaviya to scrap the “draconian” provisions.
The Opposition hit out at the government over the specific change to the period for availing premature final settlement of EPF from the existing 2 months to 12 months and final pension withdrawal from 2 months to 36 months.
They also slammed the provision of earmarking 25 per cent of the contributions in the members’ account as minimum balance to be maintained by the member at all times.
In a post on X, Congress MP Manickam Tagore said the Modi government’s new Employees’ Provident Fund Organisation (EPFO) rules are nothing short of “cruelty”.
“Pensioners and job-losers are being punished for needing their own savings. Prime Minister Narendra Modi ji — this is the time to intervene and stop Mansukh Mandaviya from destroying people’s lives.
“Under the new EPFO decisions: You can withdraw PF only after 12 months of unemployment (earlier 2 months). Pension can be withdrawn only after 36 months (earlier 2 months). 25% of your own EPF will be locked forever!” he claimed.
“Who benefits from this, Mr. Modi? Certainly not the workers. Imagine a worker who loses his job or a retiree waiting for years to access his hard-earned savings — while the Govt writes off lakhs of crores for its crony friends. This is not reform, this is robbery,” Tagore said.
He claimed Labour Minister Mandaviya’s decisions will finish the lives of pensioners who depend on EPF to survive.
“Prime Minister, please intervene immediately.Don’t let bureaucratic cruelty destroy the dignity of India’s working class,” he said.
TMC MP Saket Gokhale said the new EPFO rules introduced by the Modi government are “shocking and ridiculous”.