Soon after announcing the decision of changes in EPF, Union Labour Minister Bandaru Dattatreya has declared that the proposed move has been rolled back. In a press conference at Hyderabad, the Union minister said, "We are cancelling the notification issued on February 10th. The same old system will continue. So here is what you need to know about the controversy,
1. BMS said that the protests will continue until all restrictions on PF withdrawal were removed.
2. Garment workers sparked protests at Bengaluru and several vehicles were set on fire and they even attacked a Police station.
3. According to the government, the protestors were migrant workers, who work for two to three years at one place and then migrate.
4. Officials reported more than 25 cops, including Assistant Commissioner of Police suffered injuries in the violence and they are undergoing treatment at the Hospital.
5. Yesterday stones were pelted on buses and there were traffic jams on various parts of the Bengaluru city. Important places like Hosur Road, which leads to Electronics City and Tumkur Road, were completely stationed.
6. Workers opposing amendment to Employees Provident Funds and Miscellaneous Provisions Act expressed fear that the new rule would take away their right over the employer’s contribution of provident fund till they attain 58 years.
7. Due to the raising protests, Ministry had decided to roll back the decision tightening the PF withdrawal norms.
8. Trade union leaders said that they are of the view that the curbs on withdrawal are unnecessary as the quantum involved is just 3.67% of the employer’s contribution.
9. By Feb, labour ministry had issued a notification restricting 100% withdrawal of provident fund by members unemployed for more than two months.
10. According to the new norms proposed earlier this year, subscribers are not to be allowed to claim withdrawal of PF after attaining 54 years of age, and would have to wait till 57.
