The decision of the Employees' Provident Fund Organisation (EPFO) to not pay interest on dormant accounts, i.e. those in which there has been no contribution for three years, goes against the principles of natural justice. The time taken to transfer the balance from the EPFO to a private trust of the new employer often exceeds three years, simply because mistakes are made by the department - deliberately or otherwise. The EPFO website carefully side-steps giving any genuine reasons for the rejection of an employee's claim. Instead, an employee is encouraged to go to a "consultant" if they want redress. This corrupt practice is an expedient way for the EPFO to enhance its float without paying interest. State governments are only too happy with this anomaly because few other investors buy their bonds. This rule in particular was changed without taking the public into confidence and without any strictures in terms of the time taken for transfer or the time for redressal. Such blatant abuse of citizens' rights will increase the Aam Aadmi Party's political capital going forward. Indeed, many stand to be surprised in hindsight at how benign the party's 49-day rule over Delhi actually was.
Rohan Soares Mumbai
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