EPFO Advisory Body Against Collection Of PF Dues By Private Banks

An advisory body of EPFO has rejected a proposal to engage private banks — ICICI, Axis and HDFC Bank — for collection of PF contribution from employers. “The proposal to engage private banks — ICICI, Axis and HDFC Bank — was rejected by the Finance, Audit and Investment Committee (FAIC),” EPFO trustee and Bharatiya Mazdoor… Continue reading

More

Retirement Fund Body Aims To Cover All Workers Under PF, Pension By 2030

The Employees’ Provident Fund Organisation (EPFO) has said in its vision document that it aims to cover all the workers in the country under provident fund (PF), pension and life insurance by 2030. The vision document prepared by EPFO mentions objectives such as “universal social security coverage on mandatory basis by way of provident fund, pension and life insurance… Continue reading

More

Labour Minister For Raising PF Body’s Investment In Stocks

Unfazed by unions’ opposition and negative returns on stock market investments, Labour Minister Bandaru Dattatreya on Tuesday hinted at increasing investment of the Employees’ Provident Fund Organisation (EPFO) in exchange-traded funds (ETFs) for this fiscal year from 5 per cent currently. However, he did not specify the quantum of increase in investments this year by… Continue reading

More

EPFO May Have Rs 1,600 Crore Surplus by Year-End: Bandaru Dattatreya

The Employees Provident Fund Organisation (EPFO) is likely to have a surplus of Rs 1,600 crore by the end of this year, Union Labour Minister Bandaru Dattatreya said on Friday. “At a time when interest rates in all banks are coming down, our EPFO took good initiatives and did portfolio management properly. We gave 8.8… Continue reading

More

Decision Soon On Increasing EPFO Investments In ETFs: Minister

Noting that EPFO’s investments in Exchange Traded Funds (ETFs) have given good returns during March and April this year, Union Labour Minister Bandaru Dattatreya on Monday said these investments would be increased and the quantum for coming year would be decided soon. “On March 31, 2016, we invested an amount of Rs 6,577 crore which… Continue reading

More