CPI to fight EPF cut 'tooth and nail'

New Delhi, Sep 20: Decrying the government move to further reduce interest rate on Employees Provident Fund (EPF), the Communist Party of India (CPI) today said it would oppose any such attempt.

''We will fight tooth and nail any such government move to bring down the EPF rate,'' said CPI General Secretary A B Bardhan after a two-day meeting of the party national executive here.

According to reports, the EPF authorities want to reduce the EPF rate from the present 8.5 per cent to 8 per cent as the current rate is ''too high'' and would lead to a ''huge deficit''.

The Left parties and trade unions had staged protests last year after the government reduced the EPF rate from 9.5 per cent to 8.5 per cent.

The CPI and the other Left parties will vehemently oppose the move, Mr Bardhan said adding the government's ''intention would not be allowed to be fulfilled''.

UNI