Opposition MPs raise rate cut on EPFO deposits in Lok Sabha
The Hindu
Members also demand increase in minimum pension under EPS
Special Correspondent
Opposition members in the Lok Sabha including DMK’s T.R. Baalu and Trinamool Congress’ Sougata Roy on Monday criticised the Centre for lowering the interest rate on Employees Provident Fund deposits to 8.1% and demanded its restoration to its earlier level.
Speaking during the Zero Hour, Mr. Baalu demanded that the Centre should restore 8.5% and fix the minimum pension under the employee pension scheme (EPS) at ₹3,000 per month.
The DMK member, who represents Sriperumbudur, said the Seventh Pay Commission had recommended ₹18,000 as minimum wage and ₹9,000 as monthly pension.
However, the Centre pays only ₹1,000 as monthly pension under EPS, he said. “Adding insult to the injury, the EPFO has now reduced the interest rates on EPF from 8.5% to 8.1% . This is not good. I demand that the EPFO should restore 8.5% interest on EPF and there should be a minimum pension of ₹3,000,” Mr. Baalu said.
Mr. Roy also objected to the lowering of interest rate and voiced concern over the privatisation policy of the government.
“The government should not take the victories in the Assembly elections to ride roughshod on the workers. Already it has shown its teeth by reducing the interest rate on EPF deposits,” Mr. Roy said.
The election authorities are gearing up for the counting of votes cast in the simultaneous elections to Lok Sabha and Assembly seats in Andhra Pradesh, scheduled to be held on June 4. The Collectors and Election Officers of Visakhapatnam, Anakapalli and Alluri Sitharama Raju (ASR) districts said on May 23 (Thursday) that their teams were ready for the counting of votes.
Responding to the prolonged water scarcity, the residents of the area took to the streets in protest on Wednesday. The protest, which drew attention to their plight, stopped only after the intervention of the police. It was not until 1.30 p.m. that a 4000-litre tanker was finally delivered by BWSSB, providing relief to the water-starved residents.