March 23, 2025 01:33 pm (IST)

Make this your homepage

News

Lower representation in Parliament will weaken states' political strength: Stalin at delimitation meeting | Lower representation in Parliament will weaken states' political strength: Stalin at delimitation meeting | MK Stalin hosts mega multi-state meeting on delimitation in Chennai, BJP calls it drama | Cash pile accused Justice Yashwant Varma was named in CBI's FIR for alleged corruption, SC junked it later | London: Heathrow Airport resumes operation after substation fire causes power disruption | Bangladesh interim government not planning to ban Sheikh Hasina's Awami League | Fire at Delhi HC judge's house leads to recovery of unaccounted cash, SC collegium acts | Indian researcher Badar Khan Suri won't be deported from US over alleged Hamas link, orders judge | Donald Trump signs order to start dismantling US Education Department | Finland is world's happiest country, India slightly improves its happiness quotient with 118th position

Following protests, govt withdraws new provident fund rules

India Blooms News Service | | Apr 20, 2016, at 02:45 am

#Bengaluru protests # new provident fund rules # government withdraws # Bengaluru violence # Government

Bengaluru, Apr 19 (IBNS): Following massive protests, the government has cancelled the controversial new provident fund rules over when one can withdraw money from the provident fund, which serves as a savings plan for salaried workers when they retire, media reports said.

"Workers are now allowed to withdraw the entire amount from the provident fund as per existing provisions of the EPF Scheme 1952 including the employers' share of 3.67%," a statement on behalf of Labour Minister Bandara Dattatreya said, which is available with media.

This comes after protests continued for the second day on Tuesday with agitators blocking roads throwing stone and torching buses, leading to general disruption across many areas in Bengaluru.

The agitators, mostly garment sector workers, have been protesting against new rules for provident fund withdrawals.

According to local reports, they burnt five buses and also blocked traffic on the highway, disrupting traffic. Protests erupted in areas such as Hosur Road, Tumkur Road and Jalahalli.

On Monday, protesters blocked the Mysuru-Bengaluru highway, leaving thousands of vehicles stuck for more than 10 hours, according to reports.

The protesters told news channel NDTV that they fear they will get less money under the new rules in which people can withdraw only a part of their provident fund before retirement and can access the employer's contribution after they are 58.

According to latest reports, 20 people have been detained.

Earlier on Tuesday, the union labour ministry had announced that the EPFO has decided to allow early withdrawal of PF for certain purposes, such as housing, professional education, medical treatment and marriage of children, according to media reports.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

In Images: PM Modi meets Tulsi Gabbard in New Delhi Mar 18, 2025, at 03:19 pm

In Images: Modi meets New Zealand PM Christopher Luxon in New Delhi Mar 17, 2025, at 03:03 pm

PM Modi receives warm welcome in Mauritius Mar 11, 2025, at 03:05 pm