Monday, 19th March, 2018


What else do you have to give us: Government asks salaried people after reducing EPF interest rate

22, Feb 2018 By Sandeep Kadian

New Delhi: Government of India has now requested salaried people in the country to suggest ways in which government can further take money from them. Senior officials in the labour ministry and finance ministry have admitted that they have run out of ideas now and reducing PF interest rate was the last idea that they had. Earlier, Labour Minister Santosh Gangwar announced after the EPFO trustees meet that they are reducing interest rates from 8.65 to 8.55 affecting over 6 Crore subscribers.

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Speaking to Faking News on the condition of anonymity, a senior official from Finance Ministry said ,”As citizens of India, they have a duty to contribute to loans of Nirav Modis of this world. Now we can’t be the only ones thinking up ways to collect money from them, they should themselves come up with novel ideas. As of now, we can’t think of any other measure to take more money from them but we are sure that they must still be having some money stashed somewhere. They should tell us where are they putting their savings and how can we take it from them. We have taken cash stored in their homes, we have done the PF thing, we have introduced LTCG for market investments, there is nothing else that is coming to our mind.”

“We all know that salaried people are the most privileged in the country as they are the biggest contributors to the direct tax collections. Being the biggest contributors, they reach a moral high ground and that is the most privileged position one can have. Being the most privileged, naturally we expect them to contribute the most towards nation building”, the official said.

Meanwhile, labour unions have said that government can reduce the interest on PF further as long as government invests that money in building an EPFO website that doesn’t look like it is from 1990.