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
Bribery complaint lodged against Hyatt Regency Hotel project in Sri Lanka
-- [12 minutes ago]
Sri Lanka Navy directed to probe former President's son's appointment to Navy
-- [1 hour and 21 minutes ago]
Sri Lanka's Chief Justice to resign today making way for the appointment of a new Chief Justice
-- [1 hour and 46 minutes ago]
Urgent bill in Sri Lankan parliament today to amend previous government's 2015 Budget
-- [1 hour and 51 minutes ago]
Sri Lankan President to implement a well-structured plan to strengthen national security
New Chairman of Bank of Ceylon assumes duties
Tamil Nadu CM feels conditions in Sri Lanka's North and East not conducive for repatriation of Tamil refugees
Sri Lanka's economic freedom declines, 2015 index shows
Sri Lanka's impeached Chief Justice returns to Supreme Court to resume duties
Sri Lanka's North Central Province gets a new Chief Minister

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.