Battle Against Ayurveda is a Fight for Our Survival
The Case against Patanjali by Indian Medical Association and the tone of Judiciary is alarming. We need to look into its historical and global context to fully grasp its ramification.
A 1,731 crore “hidden treasure” that was not credited to 4.7 crore Provident Fund (PF) accounts is what enabled fund manager Employees Provident Fund Organisation (EPFO) to offer a higher 9.5 interest rate to subscribers this financial year, the Comptroller and Auditor General (CAG) has found.
The EPFO has been giving 8.5 percent interest to PF subscribers since 2005-06. However, in 2010-11, the PF fund manager increased the rate to 9.5 percent, citing a surplus of 1,731.57 crore.
The accumulation in the Interest Suspense Account (ISA) of the fund manager which the CAG has termed as a hidden treasure was due to non-updation of accounts of 4.72 crore members as of March, 2010, sources in the finance ministry said. There are about 10 crore accounts with the EPFO.
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