Thousands of employees of Air India International Corporation and Indian Airlines Corporation will come under the ambit of Employees Provident Fund Organization from January 1, 2022 with the labour ministry repealing related legislation that allowed them to be part of the exempted trust so far.
The shift to EPFO is expected to fetch higher returns on the provident fund kitty of Air India employees than what they were getting under the trust which was managed by the national carrier that was in huge losses.
“The central government hereby rescinds the said notifications, namely S.O. 434, dated February 1, 1962 and S.O. 272, dated January 25, 1963, except as respects things done or omitted to be done before such rescission under the said notifications,’ the labour ministry said.
16/12/21 Ypgima Seth/Economic Times
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