Letters to the editor Hike the PF interest rate

Written by The Financial Express | Updated: Jul 31 2008, 06:13am hrs
The Employees Provident Fund Organisation (EPFO) has selected four private fund managers, along with SBI, to manage its corpus fund. But its high time that the interest rate of 8.5%, which employees are earning on their PF savings, was hiked in tune with the general rise in interest rates and inflationary trends. Managing a portion of PF by private players is expected to put the Union government and EPFO in a better position to hike the PF interest rate. Further, the government would do well to amend the PF laws to make provident funds mandatory for more employers.

N Vijayagopalan, Bangalore

Backdoor gambit

Its regrettable that the WTO ministerial on the Doha Round has failed. But rich nations, particularly the US, should not be allowed to subsidise its farmers through the backdoor.

J Anand Menon, Kochi