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COMPENSATION
Workers, unite!A coalition of 500 employers led by Teamlease has petitioned the government to allow employees the freedom to choose how their salary is paid and contributions invested. The petition asks for choice in the employee contribution part of Provident Fund, and in putting the 12 per cent employer contribution into the Employee Pension Scheme or into an individual account. The petition says that mandated savings like PF and pension, account for more than 44 per cent of salary for low-wage earners and leads to more informal employment which harms worker interests.
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