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Thursday, 28 April 2016

DENOUNCING UNILATERAL REDUCTION IN EPF INTEREST RATE ON EPF: JOINT STATEMENT BY CENTRAL TRADE UNIONS

INTUC AITUC HMS CITU AIUTUC 

TUCC SEWA AICCTU UTUC LPF 

Press Release
26th April 2016 

CENTRAL TRADE UNIONS DENOUNCE UNILATERAL REDUCTION IN EPF INTEREST RATE IGNORING UNANIMOUS DECISION OF TRIPARTITE CBT CALL FOR COUNTRYWIDE PROTEST ON 29TH APRIL 2016 

The Central Trade Unions strongly denounce the unilateral reduction in interest rate on Employees Provident Fund from 8.8% to 8.7%, ignoring the unanimous decision of the tripartite Central Board of Trustees of EPFO. 

On 16th February 2016, the CBT of EPFO, in its meeting chaired by Union Labour Minister unanimously decided the interest rate on EPF at 8.8% as an interim measure with an indication of increasing it further in view of availability of funds generated by EPF. 

But the Finance Ministry, imposed its decision to reduce the interest rate further to 8.7% without even consulting CBT. 

While condemning such arrogant anti-worker approach of the Government, the Central Trade Unions call upon the workers and the trade unions irrespective of affiliations to protest against the same by holding demonstrations, meeting etc on 29th April 2016 throughout the country. 

INTUC AITUC HMS CITU AIUTUC 

TUCC SEWA AICCTU UTUC LPF

Source:- CONFEDERATION

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