New Provident Fund PF Withdrawal Hold By Government Till July 31st 2016

New Provident Fund PF Withdrawal Hold By Government Till July 31st 2016 :- Government takes abeyance to the new rules on provident and fund. Labour minister Bandaru Dattatreya said that they will discuss this issue with the stake holders. Government is facing the protest by the Union labours in the several parts of the country. People have also started online campaign protest against these new rules on provident and fund.ppf-story-fb_647_041916041546

Police lathicharged on the employee’s of garments factory who were protesting against this EPF ACT. Dattareya called a meeting of central board of trustee discussing about how  employers contribution  can be utilized for workers.

The labour ministry is also discussing about permitting with drawl of all accumulation of employee’s provident fund organisation subscribers on ground like purchase on house,serious illness ,marriage and professional education for children.

PF Withdrawal Hold By Government Till 31st July

After the raising protest of the people government decided to abeyance the notification till 30 April. In February ministry issued a notification to fix 100% with drawl of employees after their unemployment of more than two months.

In the another change EPFO change the mandatory that the employee  wait for the attaining age of 57 to claiming the wit ih drawl for transferring of Life Insurance corporation of India for investment ion Varishtha Beema yojna.

The unions have been demanding complete rollback of the decision tightening the PF withdrawal norms. The previous rule was better according to some people this will create problem as they will able to claim the withdrawl of provident and fund at the age of 57 according to the new rules.

Now this whole matter has been referred to law ministry for clearance and people are waiting for a fair decision by the law ministry on this matter.