April 29, 2025 06:17 am (IST)

Make this your homepage

News

Pahalgam terror attack hollowed all of us from core: Omar Abdullah | Jammu and Kashmir Assembly passes resolution, condemns Pahalgam attack | Stalin reshuffles Tamil Nadu cabinet after Senthil Balaji and Ponmudi's resignations | Centre blocks 16 Pakistani YouTube channels for provocative content in wake of Pahalgam terror attack | Centre blocks 16 Pakistani YouTube channels for provocative content in wake of Pahalgam terror attack | 'Work towards a responsible resolution': US to India and Pakistan over border tension after Pahalgam terror attack | Just 5 days after terror attack, Pahalgam witnesses tourist rush | Shehbaz Sharif breaks silence, says Pakistan ready for neutral investigation in Jammu and Kashmir terror attack | 'Either our water will flow or their blood': Pakistan leader Bilawal Bhutto threatens India over Indus Waters Treaty suspension | Pakistan official in UK makes throat-slit gesture at Pahalgam terror attack protesters in London

Following protests, govt withdraws new provident fund rules

India Blooms News Service | | Apr 20, 2016, at 02:45 am

#Bengaluru protests # new provident fund rules # government withdraws # Bengaluru violence # Government

Bengaluru, Apr 19 (IBNS): Following massive protests, the government has cancelled the controversial new provident fund rules over when one can withdraw money from the provident fund, which serves as a savings plan for salaried workers when they retire, media reports said.

"Workers are now allowed to withdraw the entire amount from the provident fund as per existing provisions of the EPF Scheme 1952 including the employers' share of 3.67%," a statement on behalf of Labour Minister Bandara Dattatreya said, which is available with media.

This comes after protests continued for the second day on Tuesday with agitators blocking roads throwing stone and torching buses, leading to general disruption across many areas in Bengaluru.

The agitators, mostly garment sector workers, have been protesting against new rules for provident fund withdrawals.

According to local reports, they burnt five buses and also blocked traffic on the highway, disrupting traffic. Protests erupted in areas such as Hosur Road, Tumkur Road and Jalahalli.

On Monday, protesters blocked the Mysuru-Bengaluru highway, leaving thousands of vehicles stuck for more than 10 hours, according to reports.

The protesters told news channel NDTV that they fear they will get less money under the new rules in which people can withdraw only a part of their provident fund before retirement and can access the employer's contribution after they are 58.

According to latest reports, 20 people have been detained.

Earlier on Tuesday, the union labour ministry had announced that the EPFO has decided to allow early withdrawal of PF for certain purposes, such as housing, professional education, medical treatment and marriage of children, according to media reports.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

In Images: President Murmu presents 2025 Padma Awards at Rashtrapati Bhavan Apr 28, 2025, at 10:28 pm

In Images: Indian President pays homage to Pope Francis Apr 26, 2025, at 06:53 pm

In Images: Vishva Hindu Parishad organises protest rally against Pahalgam terror attack in Kolkata Apr 25, 2025, at 11:27 pm