Ludhiana MSMEs take up issues related to cheap imports of Chinese goods & EPF with state govt
Ludhiana, June 24 (KNN) The delegation of various industry associations from Ludhiana met newly appointed Commerce and Industry Minister of Punjab Som Parkash and raised issues related to cheap imports of Chinese goods to India and issues of complications in Employees Provident Fund Procedures.
With regard to import of Chinese goods to India, delegation apprised the Minister that during 2018-19 the exports from China to India were around 4.92 Lakh Crores and at the similar time the exports to China were merely 1.17 Lakh Crores.
Most of the imports from China are coming under invoicing and through SAFTA & ASEAN Countries to save the custom duties and it is estimated that the total Imports from China must be more than 7 Lakh Crores.
If government impose restrictions on these items then such items can be easily manufactured in India and will also provide huge employment opportunities. Not only this, it will save very precious forex, the delegation opined.
So there is a dire need to check the trade policy with China and also there is dire need to keep a close watch on imports from SAFTA & ASEAN countries, said the delegation.
Besides, Badish Jindal, President of Federation of Punjab Small Industries Association (FOPSIA), Tarun Bawa Jain President Bahadurke Road Knitters and Textile association and Ajit Lakra of Federation of Textile and Knitters association were also present during the meeting.
With regard to the issue of complications in Employees Provident Fund Procedures, the delegation apprised him “Due to poverty the employees are reluctant to get their share deducted for depositing the same to their EPF account. This is the reason that they prefer to work in such organizations where the employers don’t deduct their contribution.”
For this either the employers are forced to deposit the Employees share from their own pocket or they hide the number of such employees those are not interested to contribute their share. This is the reason that social security compliance ratio in India is very low as compared to other countries.
In such condition the social security cover of employee remains uncovered as they also misses the Employers share of contribution.
The delegation opined that mechanism requires being form in EPF, where the employers should not be made liable for depositing the Employees contribution. This will give more coverage of EPF and help in providing wider social security network.
The minister assured to hold urgent meeting in this regard with concerned officers in his presence.