Good news for Provident Fund A/c holders, Interest Rate on PF Deposits Raised to 8.75% for 2013-14

Retirement fund body EPFO Monday announced a hike in interest rate on Provident Fund deposits to 8.75 per cent for 2013-14, a decision that will benefit over 5 crore subscribers.

The interest rate on PF deposits in the previous financial year was from 8.5 per cent.

The decision to raise interest rate was taken by the Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisaton (EPFO).

"We have decided to recommend to the government 8.75 per cent rate of interest for 2013-14 to its subscribers," Labour Minister Oscar Fernandes, who chaired the CBT meeting, told reporters here.

LDC-UDC ISSUE: TOWARDS A FINAL ACTION

LDC-UDC ISSUE: TOWARDS A FINAL ACTION

Dear friends,

It has been informed you through our earlier letters that Confederation had decided to conduct a day long Dharna action at Jantar Mantar Delhi demanding immediate Constitution of 7th Pay Commission, Merger of 50% DA to Basic Pay, Grant of Interim Relief etc. In the mean time we were eager to take up the LDC-UDC issue, which have been raising us for the last two years, in a larger platform and as such representatives of the Union/individual of LDC & UDC in various Departments were requested to come to the Dharna place of the Confederation on 9th January 2014. Prior to this, this Association has published a letter, in response to the comments posted in our web site on the subject, for discussion and finalization of the line of action to be taken to achieve the goal. Being a cadre issue Confederation has not been agreeing to include the LDC-UDC issue in its main charter of demands. But the popularity gained on the issue due to our efforts for quite some time has become a matter of attraction and rethinking by the Confederation also. In such a situation the presence of large number of representative of LDC-UDC in the Dharna would have been beneficial to impress the Confederation to add the demand in the main demands of the Confederation.

LDC-UDC ISSUE-TOWARDS A FINAL ACTION PAPER SUBMITTED IN THE DELHI MEETING

LDC-UDC ISSUE-TOWARDS A FINAL ACTION PAPER SUBMITTED IN THE DELHI MEETING

Dear friends,

This is an assembly of the representatives of deprived & low paid but highly responsible employees in the clerical cadre of category of Group C working in various offices of Government of India offices i.e. LDC & UDC whose cases have been ignored by successive pay commissions and Governments with regard to the payment of equal pay for equal work and genuine promotional avenues. On the other hand, the various Employees Federations in which the Administrative Staff including the LDC & UDC are members in Ministries/Departments of the Government of India have not been taking interest to resolve the issue of LDC & UDC so far and as such the issue could not be highlighted. During the last few months we have done vigorous campaign justifying the higher Grade pay to these sections through the web site www.aiamshq.blogspot.in. The issue has been widely published in various employees’ web sites including Central Government Employees News, gconnect.in etc who have actively supported our endeavor. As a result now the matter has become much popular and more or less all central Government Employees Associations have realized the gravity of the issue. It is to be mentioned here that the Confederation of Central Government Employees & workers has actively supported us to bring the issue before the authorities concerned. The matter was discussed in the Confederation’s National Executive Meeting on several occasions and accordingly the issue was put up as an additional item in the National Anomaly Committee (NAC) meeting in the year 2011. But the item could not be discussed in the NAC so far due to the fact that the Government has differed from their earlier decision of convening a final meeting of NAC to discuss the additional NAC items and the decision of MACP Anomaly Committee.