Skip to main content

AITUC opposes Govt of India move to reduce interest rate on Provident Fund

By A Representative
The All-India Trade Union Congress (AITUC) has opposed reported move to once again reduce the interest rate on Provident Fund. AITUC general secretary Amarjeet Kaur has said in a statement, “The employees/workers are already hard pressed in a situation where they did not get wages in lock down due to Covid-19, and many have faced retrenchments.”
Pointing out that there may be more wage cuts during unlock phase, Kaur said, the government took unilateral decision to reduce the employers’ share without consent from CBT during Covid-19. The earlier announced reduced interest rate from 8.65% to 8.5%. It is yet to be approved. Yet, there is fresh plan for such reduction without CBT nod, which would amount to total disregard to the statutory functioning of the body.
“AITUC is opposed to any attempt to reduce the interest rate on PF”, she added.

Comments

Post a Comment

NOTE: Hateful, abusive comments won't be published. -- Editor

TRENDING

If Maoist violence is illegitimate, how is Hindutva, state violence justified? Can right-wing wash off its sins?

By Swami Agnivesh* and Sandeep Pandey** There was major police action against Sudha Bhardwaj, Gautam Navlakha, Varvara Rao, Vernon Gonsalves and Arun Ferreira on 28 August, 2018. Before this police arrested Professor Shoma Sen, Adocate Sudhir Gadling, Sudhir Dhawle, Mahesh Raut and Rona Wilson on 6 June. Even before this Dr. Binayak Sen, Soni Sori, Ajay TG, Professor GN Saibaba and Prashant Rahi have been arrested and all these activists have been accused of having links with Maoists.
1 comment
»

Incarceration of Prof Saibaba 'revives' the question: What is crime, who is criminal?

By Kunal Pant* In 2016, a Supreme Court Judge asked the state of Maharashtra, “Do you want to extract a pound of flesh?” The statement was directed against the state for contesting the bail plea of Delhi University Professor GN Saibaba. Saibaba was arrested in 2014, a justification for which was to prevent him from committing what the police called “anti-national activities.”
Post a Comment
»

Manufacturing, services: India's low-skill, middle-skill labour remains underemployed

By Francis Kuriakose* The Indian economy was in a state of deceleration well before Covid-19 made its impact in early 2020. This can be inferred from the declining trends of four important macroeconomic variables that indicate the health of the economy in the last quarter of 2019.
Post a Comment
»