Date:15/12/2005 URL: http://www.thehindubusinessline.com/2005/12/15/stories/2005121500771003.htm

Back PF concerns

This refers to the editorial `The PF imbroglio' (Business Line, December 12): The Prime Minister hasdeclined financial support to increase the interest rate on EPF. He has further said that the Employees Provident Fund Organisation (EPFO) should become financially strong.

Then, it is imperative that the EPFO be freed from the shackles of bureaucratic constraints and allowed to invest money in such a manner as to earn high returns. At present, more than 80 per cent of the EPFO investment is in the Special Deposit Scheme, as stipulated by the Central government, which yields less than 8 per cent interest.

C. Ramesh

Keeramangalam (TN)

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