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Thursday, Dec 09, 2004

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Opinion - Letters

EPF interest rate

This refers to the article "Labour Minister to take up EPF interest with PM" (Business Line, December 7). It is sad that those who demand a higher rate of interest on EPF fail to suggest ways to meet the financial liability of such an increase. It has been the policy of the government to reduce the interest rate on all saving instruments. The investment policy of the EPFO is guided by Central government. The present pattern of investment as described by the centre is low-yielding.

Instead of yearning for higher rates of interest, the Labour Ministry should concentrate on earning high yield on investment. This will automatically result in higher rate of interest on EPF.

C. Ramesh

Keeramangalam (TN)

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