New Delhi, March 12: The Congress and the Communist Party of India (Marxist) on Saturday attacked the Centre over the cut in interest rates by the Employees Provident Fund Organisation (EPFO). The Congress demanded to know if it was a ”return gift” for the party’s victory in the just held assembly elections. The Left termed it a ”vengeance” on the working people post the election results.
The EPFO, under the Ministry of Labour and Employment, which is responsible for the regulation and management of Provident Fund, has slashed the interest rates to 8.1 per cent from 8.5 per cent. “The income of 84 per cent people of the country has decreased. Is it right to attack the savings of crores of employees on the basis of electoral victory?” asked Congress chief spokesperson Randeep Singh Surjewala.
“The EPFO has reduced the interest rates on PF deposits to the lowest level in 10 years. Is this the ‘return gift’ of BJP’s victory?” he added. CPI (M) General Secretary Sitaram Yechury tweeted: “Post these assembly election results, the Modi government mounts further attacks on the working people with a vengeance. Resist this attack that comes in the background of mounting hardships with job losses, price rise.”
