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CITU flays move on Provident Fund

CHENNAI: Denouncing the Centre’s move to hand over the management of the Employees Provident Fund to private mutual fund companies, the Centre for Indian Trade Unions on Wednesday said that this would seriously jeopardise the security of the hard-earned savings of workers.

The two-day national secretariat meeting of the CITU held here also condemned the “anti-worker ploy of the ESIC management in depriving common workers of statutory benefits under the ESI scheme, in violation of the ESI Act.” Mohammed Amin, general secretary of the CITU, called upon the unions to fight unitedly against such dilution of basic social security benefits.

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