Garment factory workers protest against new PF rule

| Tuesday, April 19, 2016 - 18:09
First Published |
PF rule

Garment factory workers protest against new PF rule

Bengaluru: Agitating against the new Provident Fund rule, a protest by the garment factory workers turned violent on Tuesday at Hosur Road in Bengaluru.
According to current reports, a handful of rowdy elements have been destructing public property and pelting stones on cars. Enough police enforcement has been deployed in the city and if required then force could also be called.
Police have lathicharged and used teargas shells to control the protesters, affecting the daily life in the city.
Home Minister G Parameshwara has called an emergency meet with senior police officers including DG-IGP Om Prakash, ADGP, Commissioner, Intelligence Chief on the EPF protest.
With things becoming clear that a host of restrictions are coming into play on PF withdrawals from May 1, it was a matter of time before things exploded.
According to the new rules on the withdrawal of Employees' Provident Fund, beginning May 1, employees won't be allowed to withdraw the entire Provident Fund (PF) amount if they are below the prescribed retirement age (58 years). The rule states that should the employee withdraw the amount after quitting and remaining jobless for two months, he/she will be eligible to withdraw only the contribution made towards the PF by the employee and the interest earned thereof. The person, however, won't be able to withdraw the entire amount. He/she will get the employer's contribution only at the age of 58. 

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