Very ture.The PPF & EPF are schemes which are OK when you deposit but when you want to withdraw there is the problem. Especially the EPF. It should be made optional. You have forgotten the ESI (Employees State Insurance Scheme) were in no body benefits except the Govt gets the money. It is not fair when the Govt. keeps the employees money without returning it to them when reqd.But if it happens vice versa the employer is threatened with penalty, imprisonment etc. SOmthing must be done.
Hi, The article is good but is it informative or is it a red herring for the investors who have already invested heavily in the government backed schemes. ~chintamani
hats off to these people (author of this article) for putting efforts to educate the so called educated investors who just see thwtax saving and rateof return but never able to see the capability of repayment by the organisation. it has to be widely circulated and the powers of the govt to be changed/modified if needed for wrong utilisation or under utisation of these funds.
The total corpus of EPF is not Rs 102000+ crores. It is about 60000 Crores. The balance of 102000 crores belong to EPS and EDLI schemes run by epfo. The issue is whether epf follows an accounting procedure which is reliable, transparent and fair. Answer to that will resolve all doubts and one should press for that instead of raising a fear in public mind
Indian politicians know about the ponzi schemes and that they will fall one day. But they also know that they will not be in power at that time and in fact, may not be alive when these schemesw collapse. Is it not true that Indira gandhi (C Subramaniam , DP Mishra )and most of her followers who created these schemes are all dead even though the scandal the ycreated is still alive ? Where will the millions of retired, old middle class people put their money when these schemes collapse? Old People will loose their entire lifetime of savings when these schemes collapse. Just like investors lost their investments whern the "Safe" UTI collapsed.
I want this article to be at the website for years so that more people will be forewarned.
It was so stranger and realistic to read how the pattern of pay-out of PPF and small savings schemes backed by Central Government.
Of course, we, the small investore, have to see all the aspects of investments, offer documents of Mutual Funds, PPF and Small Savings, while making investment.
Thanks for the facts bringing in knowledge of rediff users.
