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SEZ units get PF exemption

By Our Staff Correspondent

NEW DELHI Nov. 6. Industrial establishments in the Special Economic Zone (SEZ) have been exempted from contributing towards the Employees Provident Fund and the Employees State Insurance Scheme for five years, provided they implement their own schemes without compromising on the social security of the workers.

Inaugurating the 23rd National Employee Relations Conference on ``Balancing Employment Equity with Corporate Efficiency'' organised by SCOPE in collaboration with International Labour Organisation and the Council of Indian Employers, the Labour Minister, Sahib Singh Verma said this had been done to provide flexibility to the employers, keeping in view the interest of the stakeholders.

In his keynote address, SCOPE chairman, C.P. Jain, said that equity for employees had to be balanced with the efficiency of the organisation. The former Ambassador to the U.S., Abid Hussain, said that human development was also becoming extremely important and unless we improved the skills of our workers, corporates would not be able to achieve excellence.

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