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 Navy arrests five local fishermen engaged in illegal fishing
-- [39 minutes ago]
UN Rights Chief meets with Sri Lanka's defense officials
-- [1 hour and 10 minutes ago]
Sumith Lal Mendis sworn in as a Western Province Minister
-- [2 hours ago]
Ruling party in Sri Lanka nominates former Army Commander to parliament
-- [2 hours ago]
Sri Lanka's joint opposition to protest in parliament if not recognized as separate entity
-- [8 hours ago]
Sri Lanka chamber of commerce presents seminar on promoting sustainable biomass energy production
-- [9 hours ago]
Army officer, civilian killed in a road accident
-- [9 hours ago]
Another batch of Sri Lankan Tamil refugees to arrive tomorrow
Sri Lanka tourist arrivals up by 24.3 percent in January 2016
UN rights chief says releasing LTTE cadres should be resolved through Court

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.