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

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.
59 comments
»

Hoping against despair after Myanmar President’s visit to India

By Nava Thakuria  Myanmar President U Min Aung Hlaing’s five-day official visit to India from 30 May to 3 June 2026 drew attention both in New Delhi and in India’s northeastern region, where policymakers and residents closely follow developments in the neighbouring country. The visit was significant because it touched on several issues of mutual concern, including security cooperation, border management, connectivity projects, trade, and regional stability.
Post a Comment
»

Beyond data: The economist who refused to remain in the ivory tower

By Vikas Meshram   There are few people who are born into privilege yet choose to dedicate their lives to the cause of the poor. Jean Drèze is one such individual. Born on January 22, 1959, in Leuven, Belgium, into the family of a distinguished economist, Drèze has become one of the most influential voices in the study of poverty, inequality, and social policy in India. Having lived in India since 1979, he adopted Indian citizenship in 2002 and has since played a pivotal role in shaping some of the country's most important welfare initiatives.
Post a Comment
»