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
Sri Lanka prepares to hold UN Vesak Celebrations for first time
-- [5 minutes ago]
No bilateral agreements during Indian PM's visit to Sri Lanka, President clarifies
-- [35 minutes ago]
Sri Lanka Bureau of Foreign Employment earns Rs. 1.2 billion in profits for the first time
-- [1 hour and 17 minutes ago]
Minister suggests revising water supply charges for the economic stability of water board
-- [1 hour and 39 minutes ago]
Navy grants compensation of Rs. one million for the family of officer died during training in India
-- [1 hour and 59 minutes ago]
Body of 13-year-old girl dragged by crocodile found inside its belly
-- [8 hours ago]
Korea EximBank signs aide memoire with ADB and Sri Lankan government to develop Colombo-Trincomalee Economic Corridor
-- [9 hours ago]
Sri Lanka state doctors threaten to strike again between May 3 and 5 demanding to close SAITM
Sri Lanka expects to receive EU's GSP+ tax concession by 15 May as exporters eagerly await to reap benefits
Special security plan in Colombo and Kandy for May Day rallies

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.