Industry body Assocham has urged the trustees of the Employee's Provident Fund Organisation to favourably consider the Finance Ministry's recommendation to allow EPFO to invest about 5 per cent of its corpus in capital markets."The time has now come for the Central Board of Trustees under the ministry of Labour to honour the recommendation of the Finance Ministry ," Assocham President Sajjan Jindal said.Employees Provident Fund Organisation which has a large corpus of about Rs 2.60 lakh crore has been paying 8 per cent interest to its subscribers, partly from its reserves and hardly earning reasonable returns on its investments in government securities and bonds to sustain its operations effectively and profitably for future, it said.
News On AIR | October 4, 2009 7:53 PM
EPFO urged to invest 5% corpus in capital markets