Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

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
Sri Lanka, India navies hold 25th IMBL meeting aboard Indian naval ship
-- [41 minutes ago]
'China ready to provide every support to Sri Lanka'
-- [1 hour and 21 minutes ago]
SriLankan Airlines receives prestigious APEX award for Superior Passenger Experience
-- [2 hours ago]
Sri Lankan government to start a program to build economy of low income families
-- [7 hours ago]
Japan loans Sri Lanka Rs. 45 billion to construct a new bridge over Kelani River
European Union grants Sri Lanka assistance of Euro 43.7 million for development
Sri Lanka considers restarting China-funded Colombo Port City Project in six months
Two former LTTE cadres arrested for killing Tamil MP in Sri Lanka
Gotabaya Rajapaksa appears before Presidential Commission of Inquiry again
Sri Lanka police to recruit 1,500 Tamil youths as PCs

Copyright © 2000, 2010 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.