Press Esc to close
Tuesday 17 January 2017
News updated at 4:26 PM IST
Weather
Max: 28°C
Min : 15.7°C
In Bengaluru
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
London Olympics bronze medallist grappler Yogeshwar Dutt during his wedding procession at his ...

London Olympics bronze medallist grappler Yogeshwar Dutt during his wedding procession at his ...

German Chancellor Angela Merkel, right, and the Prime Minister of New Zealand Bill English, left ...

German Chancellor Angela Merkel, right, and the Prime Minister of New Zealand Bill English, left ...

In this photo taken Thursday, Dec. 22, 2016, Kenyan artist Evans Yegon displays one of his paintings

In this photo taken Thursday, Dec. 22, 2016, Kenyan artist Evans Yegon displays one of his paintings

BJP President Amit Shah welcomes former Congress leader Yashpal Arya after he was inducted into BJP

BJP President Amit Shah welcomes former Congress leader Yashpal Arya after he was inducted into BJP

People walk under their umbrellas on snow covered road after fresh heavy snowfall in Shimla on ...

People walk under their umbrellas on snow covered road after fresh heavy snowfall in Shimla on ...

A camel performs during the ongoing 24th International Camel Festival in Bikaner on Sunday...

A camel performs during the ongoing 24th International Camel Festival in Bikaner on Sunday...

Art lovers thronging Chitra Santhe organised by Karnataka Chitrakala Parishat on Kumara Krupa...

Art lovers thronging Chitra Santhe organised by Karnataka Chitrakala Parishat on Kumara Krupa...

Large number of art lovers visiting the 14th annual art fair 'Chitra Sante' organized...

Large number of art lovers visiting the 14th annual art fair 'Chitra Sante' organized...

A large number of tourists throng Mysuru Palace as weekend holidays and Mysuru Zoo remain closed...

A large number of tourists throng Mysuru Palace as weekend holidays and Mysuru Zoo remain closed...

People walk on a snow covered road following heavy snowfall at Kandi Area in Budhal, Rajouri...

People walk on a snow covered road following heavy snowfall at Kandi Area in Budhal, Rajouri...

Like us on Facebook

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