Government’s silence has left EPF subscribers confused, says BJP

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: Former finance minister and senior BJP member Yashwant Sinha on Monday accused Left supporters of the UPA goverment of keeping mum on the delay in notifying the hiked rate of interest on the Employees Provident Fund and said government’s silence had left EPF subscribers “confused”.

Raising the issue through a special mention in the Rajya Sabha, Mr Sinha pointed out at benches occupied by Left parties and said “champions” of the workers’ cause were keeping “absolutely mum” on this and demanded a statement from the government.

He said though the government chose to raise the rate of interest from 8.5% to 9.5% on February 2, just a day before the commencement of Assembly elections, there was no notification till Monday as a result of which a crucial meeting of the central board of trustees of EPFO could not be held Sunday.

Mr Sinha said though the 1% hike had created an additional burden of Rs 927 crore, it was not known how the deficit would be bridged as even the finance ministry had refused to give any subsidy for this.

This, he said, had Left the subscribers confused and a “chaotic” situation was prevailing as withdrawals were held up in the absence of a clear applicable rate of interest.

Responding to his concern, minister of state for parliamentary affairs Suresh Pachouri said since the matter related to ministries of labour and finance, he would inform the concerned ministers.

Claims of pan masala without tobacco to be examined: The government has asked the Advertisement Standards Council of India to examine the veracity of claims made by commercials of pan masala without tobacco, information and broadcasting minister S Jaipal Reddy said.

The government has banned direct and indirect advertisement of tobacco products, he said.

The advertising code for all TV channels prohibits commercials which promote direct/indirect production, sale or consumption of cigarettes and other tobacco products.

“On the matter regarding advertisement of pan masala without tobacco, the advertisement standards council of India has been asked to examine the veracity of the claim in terms of its own code of self-regulation,” Mr Reddy said.

FDI: To another question, he said foreign direct investment (FDI) is not permitted in FM radio service.