Date:04/02/2005 URL: http://www.thehindu.com/2005/02/04/stories/2005020411660400.htm

New Delhi

Congress hails decision on EPF

By Our Staff Reporter

NEW DELHI, FEB. 3. The Delhi Pradesh Congress Committee president, Ram Babu Sharma, has hailed the Centre's decision to enhance the interest rate on Employees Provident Fund to 9.5 per cent saying the move will benefit crores of employees.

Stating that the Congress Government at the Centre has always kept interest of the workers uppermost in its mind, Mr Sharma said the notification of interest hike will benefit a large number of employees.

The Congress leaders also charged the BJP-led NDA Government of leaving the country in shambles through its misrule but said the UPA Government has restored the economy to a healthy state ever since it took over power.

Recalling how the Congress had organised a massive rally in March 2002 to seek the resignation of the then Union Finance Minister after the NDA Government had lowered the EPF interest rate, Mr Sharma said that move had severely affected the saving of the poor people who were pushed into a desperate and hopeless situation.

Pointing out that the Congress Government had taken note of the matter after coming to power at the Centre, the DPCC chief said the EPF rate was increased so that the employees in the private and public sector did not lose financially. As such, he said, the Government had also kept its promise made to various delegations of employees about protecting their rights.