Lankapage Logo Recent Top Stories
CP 12 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lankan government to amend EPF and ETF Acts amidst trade union concerns
Sat, May 28, 2011, 12:29 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 28, Colombo: Amidst concerns raised by trade unions in Sri Lanka, the government has decided to amend the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF) Acts.

Treasury Secretary Dr. P.B. Jayasundara has said the EPF and ETF Acts would be amended to make provision for the proposed pension scheme for the private sector.

The Finance Ministry is currently re-drafting the legislation to formulate the proposed pension scheme and the amendment of the EPF and ETF Acts are to help its implementation.

Following the amendment of the two Acts, funds from the EPF and profits from the ETF could be transferred to the proposed pension fund.

Meanwhile, trade unions have objected to the amendment of the EPF and ETF Acts claiming the government was trying to pilfer monies from the two funds.



ColomboPage - Recent 10 Stories
Decrease in respect for religious freedom in Sri Lanka as extremists target religious minorities - Report
-- [28 minutes ago]
Sri Lankan President hands over Buddhist relics to temples in US and Korea
-- [9 hours ago]
Commercial Bank of Sri Lanka appoints Dheerasinghe as chairman
-- [9 hours ago]
A new political front against the government forming in Sri Lanka
Opposition Leader of Sri Lanka promises to create a better future for students taking GCE A/L exam
Sri Lanka Chief Justice recuses himself from hearing Golden Key case
Sri Lankan asylum seekers are economic migrants, Australian Minister says
Sri Lanka a potential location for Japanese SMEs to invest - Japan's State Minister
Sri Lanka Marxist party leader injured in an accident
British High Commissioner hopes Sri Lankans will come together respecting differences of faith

Copyright © 2000, 2010 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.