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Rollback of EPF interest rate to 8.8% post trade union protest
Highlights
Finance Ministry had earlier lowered interest rate on PF deposits to 8.7 per cent for 2015-16, evoking strong protest from trade unions that dubbed the move as \'anti-labour\'.
Finance Ministry increased Employee Provident Fund interest rate to 8.8 per cent from 8.7 per cent earlier approved.
Finance Ministry had earlier lowered interest rate on PF deposits to 8.7 per cent for 2015-16, evoking strong protest from trade unions that dubbed the move as 'anti-labour'.
Trade unions, including RSS-backed Bharatiya Mazdoor Sangh, had lodged their protest against the Finance Ministry's decision of lowering the interest rate approved by the Central Board of Trustees.
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