Press Esc to close
Thursday 02 October 2014
News updated at 5:57 PM IST
Weather
Max: 29.9°C
Min : 20.7°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
Nokia India Sales Marketing Director Raghuvesh Swarup launches the new Nokia Lumia ...

Nokia India Sales Marketing Director Raghuvesh Swarup launches the new Nokia Lumia ...

India's Mary Kom is lifted by her coach after she won the gold in women's flyweight boxing ...

India's Mary Kom is lifted by her coach after she won the gold in women's flyweight boxing ...

Bollywood actress Sushmita Sen attends the Durga Puja celebrations in Mumbai ...

Bollywood actress Sushmita Sen attends the Durga Puja celebrations in Mumbai ...

A huge statue of Mahatma Gandhi in Bengaluru a day before its inauguration ...

A huge statue of Mahatma Gandhi in Bengaluru a day before its inauguration ...

Silver medal winner India's Tintu Luka poses at the podium during the medal ceremony ...

Silver medal winner India's Tintu Luka poses at the podium during the medal ceremony ...

Boxer Mary Kom kisses shares a moment with her kid after winning the gold medal ...

Boxer Mary Kom kisses shares a moment with her kid after winning the gold medal ...

Damaged coaches after Krishak Express and Barauni Express collided near Gorakhpur ...

Damaged coaches after Krishak Express and Barauni Express collided near Gorakhpur ...

India's boxer Sarita cries at the podium after refusing to accept the bronze medal ...

India's boxer Sarita cries at the podium after refusing to accept the bronze medal ...

People look at the damaged coaches after Krishak Express and Barauni Express collided ...

People look at the damaged coaches after Krishak Express and Barauni Express collided ...

Indian tennis legend and global ambassador of the sport, Vijay Amritraj addressing during ...

Indian tennis legend and global ambassador of the sport, Vijay Amritraj addressing during ...

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