Wednesday, December 12, 2012

Investment by EPFO in Equities

   The Employees Provident Fund Organisation is not considering investment in equities as funds earning 12 per cent annually in the National Pension System.

   As on 31.10.2012, the total of Employees’ Provident Fund Organisation (EPFO) corpus invested in private sector is Rs. 26,896.54 Crore including Rs. 4.05 Crore investments in blue chip manufacturing companies.

   Employees’ Provident Fund Organisation (EPFO)ensure security of the capital contributed by the beneficiaries with risk free, consistent return on the same.

   This information was given by the Minister of State for Labour Shri K.Suresh in reply to a written question in the Rajya Sabha today.

   In another written reply the minister further informed the house that proposal of the Pension Implementation Committee (PIC), a Sub-Committee of the Central Board of Trustees, Employees’ Provident Fund (EPF) to enhance the minimum pension under Employees’ Pension Scheme, 1995 to Rs. 1000 is under consideration of the Government. The issue of enhancing wage ceiling for coverage under the Employees’ Provident Funds Scheme, 1952 has been discussed in meetings of Central Board of Trustees, Employees’ Provident Fund. However, Government is yet to take a final view in the matter.

   There is no proposal to reduce the number of workers to 5 instead of 20 for coverage under Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.


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