The AITUC State council has called on the Union government to quash the order slashing the Provident Fund interest from 9.5 per cent to 8.25 per cent. A press note quoting AITUC general secretary Kanam Rajendran said the Finance Ministry had ignored the demand raised by employees' representatives to raise the interest. He said the decision would affect 5 crore employees. The reduction came at a time when RBI was resorting to upward revision of interest to curb currency inflation.
HBL
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