Modi government launches new campaign to identify excuses for EPF interest delay
New Delhi, January 26, 2023: the Modi government today announced the launch of a new campaign to solicit new excuses from citizens to cover up the extraordinary delay in crediting EPF interest to employees. This campaign was launched by finance minister Nirmala Sitharaman at a crowded press conference in the national capital today. The venue was thronged by thousands of hopeful employees who went there with the hope that the minister will finally announce the credit of due interest which has been pending for nearly two years now.
The interest due for the last fiscal year (2021-22) for EPF accounts has not been paid yet by the government. So far it was blaming software glitches, cyberattacks and even the accidental deletion of some data by an employee's pet while he was working from home. In light of mounting pressure from employees across the country, the government was forced to act and come up with new excuses as it doesn’t have any intention of crediting the due amount till at least FY 2049.
"The situation is under control. We just need 1 excuse a week to continue delaying the credit of interest. So we are asking citizens to submit their best entries. 20000 best entries will be given GST exceptions and a chance to have a government scheme named after them," Sitharaman said When asked if she had checked her account and feels bad for the affected employees, Sitharaman brushed off all concerns. "I do not rely on EPFO as a saving instrument. All my savings are invested in commodities and bonds so I am not at all concerned by this delay. This should also allow employees to revisit their retirement kitty plans," she added.
Meanwhile, an employee who didn't want to be named for fear of being canceled or asked to head to pakistan, said "The government should clarify its stand on the issue. If it doesn't want to give interest on our savings, then it should just shut down the whole thing so that we can take our money elsewhere. The worst part is the excuses we have heard from them. They are truly humiliating and the folks behind it assume that we are gullible and rely on Whatsapp for information. Last week they shut down the website and claimed there was a cyber attack."
The campaign will run till the government gathers enough good excuses, as per a government source.
EPFO, the nodal agency for EPF declined to offer a comment stating this matter is outside their purview and responsibilities.
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