Press Esc to close
Friday 25 July 2014
News updated at 7:09 PM IST
Weather
Max: 28.5°C
Min : 19.8°C
In Bangalore
Sunny day

Government denies bid to invest EPF in equities

NEW DELHI, Dec 12, 2012, DHNS

The Employees` Provident Fund Organisation (EPFO) is not considering investing in equities as funds are earning 12 per cent annually in the national pension system.

The EPFO ensures security of the capital contributed by beneficiaries with risk free, consistent returns, Minister of State for Labour Shri K Suresh told the Rajya Sabha in a written reply.

As on October 31, 2012, the total of EPFO corpus invested in private sector is Rs 26,896.54 crore, including Rs 4.05 crore investments in blue chip manufacturing companies, he said.  


In another written reply, the minister informed the House that a proposal of the Pension Implementation Committee, a sub-committee of the Central Board of Trustees, Employees’ Provident Fund, to enhance the minimum pension under Employees’ Pension Scheme, 1995, to Rs 1,000 was under the 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, the government is yet to take a final view in the matter.

He added that there was no proposal to reduce the number of workers to five instead of 20 for coverage under Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.

Go to Top

Photo Gallery
Army Chief General Bikram Singh paying homage to Kargil war martyrs at their memorial...

Army Chief General Bikram Singh paying homage to Kargil war martyrs at their memorial...

Indian Muslims hold placards during a protest against Israel's attack on Gaza...

Indian Muslims hold placards during a protest against Israel's attack on Gaza...

Lyricist and MP Javed Akhtar and BJP MP Sakshi Maharaj...

Lyricist and MP Javed Akhtar and BJP MP Sakshi Maharaj...

Muslims offering Jumat-ul-Vida prayers at Badi Chaupad near...

Muslims offering Jumat-ul-Vida prayers at Badi Chaupad near...

England's Jason Kenny, left, leads Australia's Matthew Glaetzer, during the...

England's Jason Kenny, left, leads Australia's Matthew Glaetzer, during the...

Scotland's Ross Murdoch wipes away tears after...

Scotland's Ross Murdoch wipes away tears after...

Ross Murdoch of Scotland reacts after winning the men's 200m ...

Ross Murdoch of Scotland reacts after winning the men's 200m ...

India's Manpreet Singh dives for the ball during his side's field hockey match...

India's Manpreet Singh dives for the ball during his side's field hockey match...

India's Gold medal winner Sukhen Dey and Bronze medal winner Ganesh Mali pose after...

India's Gold medal winner Sukhen Dey and Bronze medal winner Ganesh Mali pose after...

India's gold medalist Sanjita Khumukcham and compatriot silver medallist...

India's gold medalist Sanjita Khumukcham and compatriot silver medallist...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523