EPF subscribers to get 8.5 percent interest on deposit

    New Delhi: Employees Provident Fund subscribers are to get 8.5 per cent interest on their deposits for the year 2005- 06. A notification to this effect was issued by the Union Labour Ministry here today conveying the Government's approval under Para 60(1) of the Employees Provident Fund Scheme 1952 to the recommendation made by the Central Board of Trustees (EPF). It may be recalled that the Chariman of the Central Board of Trustees and Labour and Employment Minister,K. Chandrasekhar Rao had recommended an interest rate of 8.5 per cent to be paid to the EPF subscribers on their deposits during the current financial year. Rao was authorised by the Central Board of Trustees of the Employees Provident Fund to recommend an interest rate at its 173rd meeting in New Delhi on December 7, 2005. Rao, after consultation with senior officers of the Labour Ministry and the EPFO, announced on the same day that he would be recommending 8.5 per cent interest rate to the Government for approval. The Employees Provident Fund Organisation will be meeting the deficit liability of Rs. 365.89 crore on account of 8.5 per cent interest rate from within its own resources. The Employees Provident Fund Organisation will have to pay Rs. 6,889.04 crore as interest to its subscribers for the current financial year while its projected interest income will be Rs. 6,523.15 crore.

Adarsh Kishore appointed Finance Secretary

    New Delhi: The Appointments Committee of the Cabinet has approved the appointment of Adarsh Kishore as Finance Secretary and Secretary (Expenditure). Kishore, an officer of the 1969 batch of the Indian Administrative Service (Rajasthan Cadre), was Secretary (Expenditure) in the Finance Ministry.

Hi-profile sex racket busted in Gurgaon
by Pankaj Yadav

   Gurgaon (Haryana): The Gurgaon Police today busted a hi-flying sex racket from the satellite town's posh locality DLF phase-III. The police arrested as many as three call girls hailing from Delhi, Mumbai and Bangalore, The girls were staying in house number V 1/3, Phase III and were involved in sex racket for highly influential people in and around Gurgaon. The arrested girls used to supply girls in five star hotels both in Gurgaon and Delhi. The names of the girls arrested are Anu (from Delhi), Rashmi (from Mumbai) and Tabassum (from Bangalore). The police also arrested three persons namely Sonu, Ravi and Sanjay, all from Delhi. One among these persons is said to be the pimp. Gurgaon DSP Narendra Ahilwat said that a police case related to immoral trafficking of women has been registered at the DLF police station and the arrested would be produced in Gurgaon District Courts tomorrow morning. Describing the status of the arrested girls, he said that one of these girls opted to join the flesh trade after she developed differences with her family, the other girl came into this trade after having sharp differences with her husband, and the third girl's parents had died.

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