Condemn the reduction in Provident Fund interest rate

Submitted by cgpiadmin on Fri, 27/01/2017 - 20:29

The Central Board of Trustees (CBT) of the Employees Provident Fund Organization (EPFO) has announced its decision to reduce interest rates for Employees Provident Fund from 8.8% to 8.65%. This will be applicable for the current year 2016-2017, once it is approved by the Central government.

This reduction in the Provident Fund interest rate is an attack on the savings of crores of workers. It is estimated that there are about 4 crore active EPF accounts. These workers will now earn less on their savings.

The decision to lower interest rates on EPF comes on the heels of the earlier decision to lower interest rate on small savings schemes by 0.1%. Together, they constitute an attack on the working class and toiling people of our country,

Earlier this year, the Central Government had announced the reduction of EPF interest rate from 8.8% to 8.7 %. However, in the wake of massive protests of the working class, the government had been forced to withdraw that order.

The Communist Ghadar Party condemns the decision to reduce the interest rate on EPFO, and calls upon the working class to unitedly fight for its reversal.

Tag:    Jan 1-15 2017    Political-Economy    Economy     2017   

PARTY DOCUMENTS

Click to Download PDFThe first part of this pamphlet is an analysis of facts and phenomena to identify and expose the real aims behind the Note Ban. The second part is devoted to a critical appraisal of the government’s claims that it will reduce inequality, corruption and terrorism. The third part is what Communist Ghadar Party believes is the real solution to these problems and the immediate program of action towards that solution.

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These Elections are a FarceInterview with Comrade Lal Singh, General Secretary of Communist Ghadar Party of India by Comrade Chandra Bhan, Editor of Mazdoor Ekta Lehar

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Click to Download PDFInterview with Comrade Lal Singh, General Secretary of Communist Ghadar Party of India

by Comrade Chandra Bhan, Editor of Mazdoor Ekta Lehar

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History of Ghadar PartyA Presentation of Communist Ghadar Party of India

100 years ago Ghadar Party was formed by Indians in the US.It was historic milestone in our anti-colonial struggle.

The goal of this party was to organise a revolution to liberate our motherland from British servitude and establish a free and independent India with equal rights for all. It believed this to be the necessary condition for our people to hold their heads high anywhere in the world.

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Call of the Central Committee of Communist Ghadar Party of India, 30th August, 2012

Working class representatives from all over the country are gathering on 4th September, at a time when a titanic struggle is going on in our country. The struggle is between the majority of toiling and exploited people and a minority of exploiters. It is between the majority whose labour expands wealth and the minority who enjoy the fruits of wealth creation on the basis of their private property and positions of power.

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Call to the Working ClassDefeat the program of privatisation and liberalisation!

Fight with the aim of establishing workers’ and peasants’ rule!

Call of the Central Committee, Communist Ghadar Party, 23 February, 2012

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