The Supreme Court has given an interim order in favour of bankers against the Social Security Fund. The full bench issued an interim order in favour of the employees after four days of continuous proceedings. Employees urged that participation in the Social Security Fund be made optional.
This is not, however, the final sequence. The Supreme Court issued an interim injunction prohibiting banks and financial organisations from being forced to join the Social Security Fund unless they do so willingly.
While the government compelled bankers to join the social security fund, bankers argued that participation in the fund should be voluntary.