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

Retired civil servants slam CJI’s remarks on environmental litigants

By A Representative   An open letter issued on May 22, 2026, by the Constitutional Conduct Group (CCG), comprising 71 retired civil servants from the All India and Central Services, has strongly criticized recent remarks made by the Chief Justice of India (CJI) against environmental litigants. 
Post a Comment
»

The farmer's burden: How oil, war, and climate are rewriting the price of food

By Vikas Meshram   The scorching flames of the Middle East conflict are now slowly reaching the kitchens of ordinary people. The true price of this war is paid in daily markets, vegetable shops, and in the shattered minds of farmers. Expensive crude oil, skyrocketing fertilizer prices, and rising agricultural costs are together creating the conditions for global food inflation — and this crisis is directly tied to what people eat and drink every day.
Post a Comment
»

Economic nationalism under strain as Indian corporates turn to America

By Sandeep Pandey*  U.S. federal prosecutors withdrew a criminal case involving allegations that Gautam Adani had bribed officials in India to secure solar energy projects, stating that they lacked sufficient evidence. Gautam Adani and his nephew Sagar Adani also settled a civil fraud case with the Securities and Exchange Commission by paying a fine of around ₹180 crore without admitting wrongdoing. In addition, Adani Enterprises reportedly deposited around ₹2,750 crore into the U.S. Treasury to resolve allegations that it had violated U.S. sanctions on Iran through purchases of Iranian liquefied petroleum gas (LPG). 
Post a Comment
»