Allies will be consulted on EPF rate, says new labour minister

New Delhi, Nov 28 | Updated: Nov 29 2004, 05:30am hrs
Under attack from Left parties for lowering employees provident fund (EPF) rate from 9.5 % to 8.5%, the government on Sunday said it would consult its allies before taking any decision. We will definitely consult the Left before taking any decision (on the issue of fixing EPF rate), labour and employment minister Chandrasekhar Rao said after assuming charge.

Maintaining that it was too early for him to make any comment on the issue, he said I have just taken over and it wont be proper to comment on it in a hurry at this moment. I will review the entire matter and the policies so far.

This is a serious matter, Mr Rao said, adding that Prime Minister Manmohan Singh would also be consulted before any decision is taken and the issue would be placed before the cabinet for its approval. he said he would work towards improving the quality and condition of the workforce across the country.