CITU opposes move to transfer unclaimed EPF monies to Senior Citizens Welfare Fund

[Informalisation and Labour Rights - Related News]

The Centre of Indian Trade Unions has opposing the reported move of the Centre to transfer unclaimed deposits with Employee Provident Fund Organiston for the Senior Citizens Welfare Fund, terming it as "unilateral". In a letter to Finance Minister Arun Jaitley, Tapan Sen, general secretary, CITU and Rajya Sabha MP, said it was "neither legally nor morally or ethically correct to unilaterally transfer even a part of the EPF accumulation for any other purpose unrelated to the employees concerned who had built up the fund through their own contribution."