A circular has since been issued by the Employees Provident Fund Organisation to the effect that deduction of Provident Fund from the salary of the employees be henceforth be done by computing provident fund on full salary inclusive of all the allowances payable to them as against the current practice of calculating it on the basis of basic pay+dearness allowance only. The decision so taken sounds apparently to be laudable but it may not give the employees any benefit of increase in their actual take home salary, this shall rather be reduced as a result of more amount being deducted as provident fund. Saving wise, it is alright, but any cut made in the salary by terming it as a compulsory saving for the employees may hardly mean any thing in days to come on the face of the fact that value of money is getting deteriorated every day as a matter of inflation, rather hyper inflation, which is so rampant.
4 comments:
Very correct advice.
This is of advantage to the employees from savings angle
In present time,when inflation is increasing day to day,these type of deductions should not be mandatory.
Sir,need not to be bothered,you should chage your view that at present,none is among the politicians to think in the interet of public.They are only thinking about funds on their own descretion which will be available in this scheme only for a long time.One thing,I dont know whether is in your mind or not that P.F Deptt.of Govt. is called "A DUDHAROO GAY i.e. milky cow because most of the employee,particularly,of private sectors remains unable to claim of P.F.and if any body could make efforts,certainly he faces a lot of problems.Rather to take payment of this Saving from this deptt.is a difficult task and expensive also.
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