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| BMS files PIL against lowering interest rates on PF | | | Early Times Report
JAMMU, Aug 20: Bhartiya Mazdoor Sangh has filed Public Interest Litigation (PIL) in J&K High court through advocate Vilakshan Singh against lowering of interest rates on Provident Fund.
According to press release, the high court has admitted the PIL and has issued notice to Govt for reply on 8th of September 2021 said Ashfaq Ahmed Chohan President BMS.
Harbans Choudhary senior leader of BMS said that subscribers are making contributions in JK EPFO for financial social security at the time of retirement but has been cheated by the JK EPFO as the rate of interest on contributions has been reduced retrospectively from 2015 onward without any approval from JK Provident Fund Board of Trustees or from the Jammu Kashmir Govt.
The PF officials on their own issued office circular dated 23.12.2021 by passing the Govt order of 2013 regarding 8.5% interest till further order to dealing clerks with the direction to Calculate and pay interest on savings from 2015 i.e. 2015-16 @8% 2016-17 @ 5.75% 2017-18 @ 5.75@ 2018-19 @ 6.75% 2019-20 @6.05% and 2020-21 till November 2020 @ 5.10% whereas the officials concerned are not competent to pass such illegal orders and has given loss to the subscribers and has given loss to such subscribers those whom PF is still laying with PF organization and has not withdrawn so for whereas the subscribers those who had withdrawn their PF accumulations till November 2020 has been paid Interest @ 8.5% thus giving financial loss to subscribers those who are still in employment or has not withdrawn and maximum loss was is to the subscribers of Private sector and as well as to public sector employees such as JKSRTC, Mata Vaishno Devi Shrine board CTM Ascom Hospital where thousands of employees are working.
Most importantly the JK EPFO has been given numbers of extensions for handing over the subscribers accounts updated to central Govt EPFO but JK EPFO failed to do so and poor subscribers those who are in urgent need of money are being denied for withdrawal BMS demands that process of transferring of subscribers account be speed up and those employers who are not supporting in reconciliation on priority should be punished accordingly, reads the press release.
Ashok Choudhary Sangathan Matri BMS JK Sachin Bali General Secretary Ascom employees Association, Purshotam Singh General Secretary Shri Mata VaishnoDevi Shrine Board, Chaman Lal Raina Gen Secretary J&K SRTC karmchari Union among others also addressed the conference |
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