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Use EPF funds in pension

The letter “Pension meager” by Parmodh Malhotra (December 9) needs some clarification. As per the EPF Act, to calculate the pension of a worker, the length of service in years is multiplied by the basic salary (maximum Rs 6,500) and then divided by factor 70. Since this pension scheme was started in the 1995, the length of service is counted from April 1, 1995. Thus many workers who retired before 2000 are being paid pension as low as Rs. 50 per month on the basis of such a formula. This pension amount, unlike other pensions, is not linked with the price index and, so, remains unchanged throughout one’s life. Such a pension has been a mockery of the system.

I have taken up this matter with the Union government and it has been discussed in Parliament on three different occasions. The minister concerned has always said, “That is what the government can pay out of the pension fund being received from the employees.”

Ultimately, an expert committee was constituted by Parliament on April 26, 2010 to consider the enhancement of EPF pension. Based upon its report, it was decided in Parliament that the minimum EPF pension of a worker will be Rs 1000. Unfortunately, this decision too has not yet been implemented.

The EPF department is one of the richest organisations. As per the report published on October 1, 2010, in Business Line, the total corpus of EPF is Rs 3.5 lakh crores and have unclaimed money to the tune of Rs 10,000 crores in un-operative accounts. The figure must have increased many times by now. The interest component of such a huge deposit itself is sufficient for the government to increase the EPF pension to Rs 5000 with increase as per price index. The government should not forget its obligation towards senior citizens, retired workers in the private sector as well as in PSUs etc.

KULBIR SINGH, Rajpura

Party of sycophants

The defeat of the Congress in the recent elections is due the presence of sycophants in the party. Almost everyone wants to please the high command, including state level leaders. No one gives the true facts and figures to its high command. Equally at fault is the high command which does not judge the political atmosphere on its own.

Even after getting such a jolt, some people want the vice-present of the party to be immediately declared the PM candidate. One cannot achieve everything due to one’s dynasty on which he has been harping.

The party needs introspection, otherwise it should be ready to even lose its right to sit as the largest Opposition party after the next parliamentary elections.

Harbhajan Singh Sarwara, Rajpura

Kudos to Delhi voters

Besides Kejriwal, hats off to the wise and intelligent voters of Delhi. We salute the spirit of Delhi both in the Nirbhaya case and in the Delhi elections. The people of other states also need to think this way in order to achieve progress. We wish the AAP success in discharging its responsibilities as it has achieved in Delhi.

Rajwinder Kaur, Ludhiana

Modi’s reign

The BJP getting a majority in three states is a victory for the nation. The country has been deteriorated with the UPA government in power. It does not matter if Modi does not get a visa to go abroad.

Like he has strengthened the heritage of Gujarat, he will make a change for betterment in India. His thoughts are promising and his approach towards changing policies seems to be firm.

Aanchal Tangri, Panchkula

Stop distribution gimmick

The people’s verdict in four states is indicative of their preference to performance over populism. Our legislators should stop considering winning over voters by squandering meagre state resources by promising to distribute laptops, mixtures, grinders, fans, TV sets and mobile phones.

Infrastructure development to generate employment opportunities coupled with necessary financial aid to deserving people is a must to win trust in society.

R.M.Mittal, Mohali

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