Union Labour Minister Bandaru Dattatreya has said that the Employees Provident Fund Organisation (EPFO) has approved hike in investment limit in exchange traded funds to 15 per cent from the existing 10 per cent. The decision was taken during the meeting of the Central Board of Trustees in Pune yesterday. Exchange Traded Funds (ETF) are essentially Index Funds that are listed and traded on exchanges like stocks. An ETF is a basket of stocks that reflects the composition of an Index. It is like a Mutual Fund that one can buy and sell in real-time.Mr Dattatreya said the total investment as on April 2017 was 22,858.69 crore rupees. He said 234.86 crore rupees have been earned as a dividend with this pattern of investment. The EPFO yesterday also turned down the proposal to reduce the mandatory contributions from workers and employers to 10 per cent. Presently employees and employers contribute 12 per cent of basic wages each towards Employees Provident Fund Scheme, Employee Pension Scheme and Employee Deposit Linked Insurance Scheme.