The Labour Ministry is proposing to start with investment of one per cent of its corpus into equity markets to facilitate flow of Employees' Provident Fund Organisation (EPFO). Sources in the Ministry said, the investment pattern for the retirement fund body in this regard is likely to be notified soon. Finance Minister Arun Jaitley, in the budget, had proposed a new investment pattern under which the EPFO would invest a minimum of 5 per cent of its investable funds into equity and equity related schemes.EPFO Central Provident Fund Commissioner KK Jalan said, the central government can decide the pattern of investment of fund. He said, the central government is 100 per cent competent with regard to the investment guidelines of any provident fund in the country. Trade unions have, however, opposed any move to invest EPFO fund in capital market.
News On AIR | April 1, 2015 8:11 AM
Govt to notify pattern of EPFO investment in equity soon