Higher EPF interest rate not desirable

The Employees Provident Fund Organisation (EPFO) has recommended 8.5 per cent interest on the Employees Provident Fund (EPF) for 2005-06. In fact, 8 per cent interest is just the right amount as it has subsidies behind it. For any economy to develop and grow, subsidies are not good.

Furthermore, the maximum rate of interest for 100 per cent safe deposits is 8 per cent only — on Public Provident Fund and various schemes like the National Savings Scheme, Kisan Vikas Patra, Post Office Monthly Scheme as also on taxable bonds of the Reserve Bank of India, etc. The only exception is 9 per cent for special scheme for Senior Citizens Deposit with a maximum cap of Rs 15 lakh.

Dear readers

Letters to the Editor, neatly hand-written or typed, upto 150 words, should be sent to the Letters Editor, The Tribune, Sector 29 C, Chandigarh. Letters can also be emailed at the following address: letters@tribunemail.com

— Editor-in-Chief



Therefore, it shall be most unjustified and against public interest to give more than 8 per cent on EPF. If the government sanctions more than 8 per cent under political pressure, then all other schemes as mentioned above must get the EPF rate of, say, 9 or 9.5 per cent.

MAHESH KUMAR, Chandigarh


If former Union Labour Minister Sahib Singh Verma (in the Vajpayee government) could give 9.5 per cent EPF interest rate, what prevents his successor, Mr K. Chandrasekhar Rao, from doing so?

Our Union Ministers say that the people have forgotten the erstwhile NDA government’s rule. However, this is not correct. The people feel that the Vajpayee government was far better than the present one.

I don’t endorse Prime Minister Manmohan Singh’s statement that if the EPF organisation generates enough money, then a higher interest rate could be given. His government’s performance would have been better if, besides giving 9.5 per cent interest rate on EPF, a similar rate of interest was given on PPF too.

A careful analysis of successive Union Finance Ministers’ performance would suggest that Mr P. Chidambaram seems unable to check the price rise. What a pity!

K.K. BHARDWAJ, Patiala

Communists’ long march

When India attained Independence, Communists were very strong in many states. At that time, they understood only the rouble and the freebies given by the USSR. The Mitrokhin Archives II: The KGB and the World confirms the general perception.

At the time of Independence, West Bengal was a prosperous industrial state. People from other states used to go to Bengal for jobs. However, Communists drove out most of the Indian-owned industries by organising strikes and gheraos. The state has driven out the working class and the educated to other states. The Communist leaders are now angling for FDI to create jobs!

Chief Minister Buddhadeb Bhattacharya says money has no colour. Anyhow, it has been a long march for the Communists! Didn’t they understand that there were currencies other than the rouble?


Mangalore (Karnataka)

Husain’s paintings

Reading about the paintings of Hindu Gods and Goddesses in blasphemous postures by M.F. Husain was very disgusting. Though we enjoy the freedom of expression, no one has the right to insult any religion and thereby hurt the sentiments of the people. I strongly condemn Husain’s works and plead for a ban on the book containing those paintings.

Dr S.R. MITTAL, Moga

Urdu bulletin

This is regarding AIR’s 9.15 pm Urdu news bulletin on November 24. The news was about the celebration of the martyrdom day of Shri Guru Tegh Bahadur. It was informed that the Guru was hanged in Chandni Chank, Delhi, on this day.

Is it not sheer ignorance? The Guru was beheaded and martyred and his severed head was taken by Bhai Jaita and cremated at Shri Anandpur Sahib.


World AIDS Day

Throughout the year, we celebrate special days like Mother’s Day, Teachers’ Day, Children’s Day, Valentine Day, etc. Invariably, the connotation is of joy, enjoyment and celebration. Then why celebrate AIDS Day? Why can’t we rename it as AIDS Awareness Day or Anti-AIDS Day? Surely, there is nothing to celebrate about AIDS. This is a very unfortunate affliction and a deadly disease.


Chetak buses

The report “Low cost Chetak bus service from 2006” (Nov 25) quotes Haryana’s Transport Minister about the modernisation of bus stands in the state. Recently, I travelled by a Haryana Roadways bus from Chandigarh to Delhi. Upon reaching Ambala Cantonment, we were told to alight and board other buses as the conductor had to attend a funeral.

The condition of public toilets at Panipat and Gannaur bus stands is pathetic. Will the Minister please direct the administration to improve the existing conditions and then go ahead with modernisation?

V. DHIMAN, Chandigarh


HOME PAGE | Punjab | Haryana | Jammu & Kashmir | Himachal Pradesh | Regional Briefs | Nation | Opinions |
| Business | Sports | World | Mailbag | Chandigarh | Ludhiana | Delhi |
| Calendar | Weather | Archive | Subscribe | Suggestion | E-mail |