BMS files PIL in HC against lowering interest rates on PF

Excelsior CorrespondentJAMMU Aug 20 Bhartiya Mazdoor Sangh BMS JK filed a Public Interest Litigation PIL in JK High Court which issued notice to the Government to reply on September 8 2021This was informed by Ashfaq Ahmed Chohan president BMS while addressing a press conference here todayHarbans Choudhary senior BMS leader told reporters that subscribers are making contributions in JK EPFO for financial social security at the time of retirement but they have been allegedly cheated by JK EPFO as rate of interest on contributions have been reduced retrospectively from 2015 onward without any approval from JK Provident Fund Board of Trustees or from JK governmentHe also claimed that PF officials on their own issued office circular dated 23122021 by passing govt order of 2013 regarding 85 interest till further order to dealing clerks with the direction to calculate and pay interest on savings from 2015 like for 2015-16 8 2016-17 575 2017-18 575 2018-19 675 2019-20 605 and 2020-21 till November 2020 510 whereas the officials concerned are not competent to pass such ordersHe also said that PF officials have given loss to the subscribers whose PF is still laying with PF organization and have not withdrawn so for whereas the subscribers those who had withdrawn their PF accumulations till November 2020 were paid interest 85 thus giving financial loss to subscribers who are still in employment or have not withdrawn PFThe poor subscribers who are in urgent need of money are being denied withdrawal BMS demands that process of transferring of subscribers account be speeded up and those employers who are not supporting in reconciliation on priority should be punished accordingly said Ashok Choudhary BMS Secretary OrgSachin Bali general secretary ASCOM employees Association Purshotam Singh general secretary Shri Mata Vaishno Devi Shrine Board Chaman Lal Raina general secretary SRTC Karmchari Union were also present in the press conference