Financial Daily from THE HINDU group of publications
Tuesday, Feb 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 08, 2005 |
|
|
|
|
|
Opinion
-
Letters EPF interest rate
The Centre's decision to increase the interest rate on EPF has been taken to pacify the political demands. This increase in interest rate is estimated to cost the fund a deficit of Rs 927.15 crore, for which the Centre refused to assume any responsibility. Now, the ball is in the court of Central Board of Trustees, EPF. They have to implement the decision at any cost. Pertinently, with the increase in the rate of administrative charges (payable by the employers) from 0.65 per cent to 1.1 per cent with effect from August 1,1998, there has been huge accumulation of money in the administrative account of the EPF. A surplus of Rs 600 crore has been in the administrative account for the last three years. This may be used to make good the estimated deficit arising out of increase in the interest rate. The Centre should, however, allow the EPF to reimburse the money to the administrative account. C. Ramesh Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|