Question : NON COMPLIANCE OF EPF AND MP ACT,1952

(a) whether Burn Standard and Company Limited is not complying with the provision of EPF and MP Act, 1952 to provide statutory rate of interest on P.F. to its employees since its nationalisation;

(b) if so, the losses incurred by the employees as a result thereof;

(c) whether it is mandatory for the employer to make good such losses;

(d) if so, the action taken against the BSCL Authority to meet the situation;

(e) whether BSCL has sought any funds or made a provision in its restructuring proposals to this effect;

(f) if so, the details thereof; and

(g) if not, the remedial action proposes to be taken by the Government in this regard?

MINISTER OF LABOUR AND EMPLOYMENT (SHRI K. CHANDRASEKHAR RAO)


(a) to (c): M/s. Burn Standard and Company Limited has declared the rate of interest lesser than the statutory rate, upto 1995-96. Thereafter, they have been paying at the statutory rate of interest.


No mandatory provision was there in the conditions governing grant of exemption duly notified by the State Government for making good such losses.


(d) to (g): Do not arise in view of (a) to (c) above.