Leaders of the trade union organisations, however, have castigated the idea as a ploy to help the private sector maximise its profits. Ten trade union bodies boycotted the meeting in protest against the snub to Intuc, while airing their rejection of the proposal. Even the RSS workers’ wing, the Bharatiya Mazdoor Sangh, which attended the meeting, rejected the proposal. “Corporate houses include the (entire) 24 per cent EPF contribution under the head of ‘cost to company’ or CTC. Several recruitment firms have asked the government to reduce the contribution of the employer to the employee’s EPF account.

Source: The Telegraph September 26, 2019 22:39 UTC