Financial Daily from THE HINDU group of publications
Wednesday, May 25, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 25, 2005 |
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Opinion
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Letters EPF concerns
The Employees' Provident Fund Organisation EPFO has granted several non-refundable loan/advance facilities under the EPF & MP Act, 1952 with special consideration for workers who live below the poverty line. These loans include advances on land purchase, house construction, marriage, education, natural calamity, sickness, closure of factory, sickness and loans used for buying crutches for the handicapped. But there is no such loan exclusively for the purchase of consumer durables such as televisions, fridges etc. Such a loan would entitle everyone to these `luxuries'. The EPFO should open a separate EPF bank for re-crediting the members' EPF, EDLI & EPS amounts in the same organisation after resignation/retirement so that the ex-member can get the same interest rate and receive their monthly salary/pension directly from this bank. The Employer could remit their PF and allied dues directly to this bank. V. Sundaralingam Vellore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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