New Delhi, March 12 (UNI) The Centre of Indian Trade Unions (CITU) denounced reduction of EPF interest rates from current 8.5 per cent to 8.1 per cent for the financial year 2021-22. All Employees’ representatives in the Central Board of Trustees of EPFO representing the Central Trade Unions including CITU opposed it in unison in the board meeting held at Guwahati, on March 11 and 12 this year, in spite of which the board has decided to recommend to reduce the interest rate based on the Government and Employers’ representatives’ proposal, said Tapan Sen, general secretary, CITU. The argument of the Union Government was to treat it on par with interest rates of any other deposits in banks can never be acceptable as EPF is a recurring life time savings of the employees meant for their future as part of social security. This has to be differentially treated than any other deposits linked interest rates in banking sector, said Sen. CITU will hold general strike on March 28 and 29, against the anti-working class policies, added he.
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