The Coal Mines Provident Fund should immediately pay arrears to retired employ


By Shri A Venu Madhav, Vice president, Singareni Retired Employees Association Hyderabad


Although the Government of India has agreed to pay 8.6% and 8.5% interest on workers’ savings in the Coal Mines Provident Fund from 2017 to 2021, the workers have suffered severely due to the negligence of the Coal Mines Provident Fund officials. In the financial years 2017-2018-2019, 2019-2020, 2020-2021, only 8% interest was paid while 8.5% interest was payable. With this calculation, the retirees lost Rs 500 on a savings of Rs 1 lakh. As a result, about one lakh to two lakh arrears are due to retired employees.

Therefore, retiring employees from 2017 to March 31, 2021 should immediately pay the arrears at 8.5% interest. This has been demanded by Singareni Retired Employees Association President Dandamraju Ramchander Rao, Vice Presidents Alavandar Venu Madhav, Secretary B. Banaya, Advisors T. Umakar and Treasurer M. Vijay Babu and others.



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