EPFO's investment in ETFs at Rs Rs 86,966 cr till September
The EPFO has been investing in ETFs since August 2015. Initially, the body decided to invest 5 per cent of its investible deposits into stock markets. Later, the proportion was increased to 10 per cent in 2016-17 and 15 per cent in 2017-18 and onwards.
The Employees' Provident Fund Organisation (EPFO) is investing in ETFs based on Nifty 50, Sensex, Central Public Sector Enterprises (CPSEs) and Bharat 22 Indices."The total amount invested by EPFO in ETFs as on September 30, 2019 is Rs 86,966 crore. The Central Board of Trustees (CBT), Employees' Provident Fund (EPF) in its 207th meeting held on March, 31, 2015 decided to invest only in ETFs in the category of equity and related investments," Labour Minister Santosh Gangwar said in a written reply to the Lok Sabha. Advertisement
The minister told the House that the EPFO does not invest in shares and equities of individual companies.
The Employees' Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons.In order to extend social security benefits to all eligible workers in the country, continuous efforts are made to bring the coverable establishments under the EPF & MP Act, 1952 and also for bringing the eligible employees under the umbrella of schemes under the Act.
The minister told the House that as on March 31, 2019, 197 industries/classes of establishments are notified for coverage which has brought 4.69 crore contributory members within the ambit of EPFO. KKSKKS ANU ANU
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Three more IPOs to hit the Indian market next week — Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infrastructure
- HDFC Bank and SBI customers are facing UPI payment glitches
- India is the second-largest market for Coursera with 9.8 million learners, right after the US
- Odisha witnesses highest single-day COVID-19 cases and a record 16 deaths in a single day
- Maruti Suzuki launches 'vehicle subscription programme' in 6 cities — these are the models offered