PIB News Update: Shri Santosh Kumar Gangwar Union Minister of State (I/C) for Labour and Employment has informed that Employees’ Provident Fund Organization (EPFO) is investing in Exchange Traded Funds (ETFs) based on Nifty 50, Sensex, Central Public Sector Enterprises (CPSEs) and Bharat 22 Indices. EPFO does not invest in shares and equities of individual companies.
The total amount invested by EPFO in ETFs as on September, 2019 is Rs. 86,966 crore. The Central Board of Trustees (CBT), Employees’ Provident Fund (EPF) in its 207th meeting held on 31.03.2015 decided to invest only in ETFs in the category of equity and related investments.
The Employees’ Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952 is applicable to every establishment employing 20 or more persons which is either a factory engaged in any industry specified in Schedule–I of the Act or an establishment to which the Act has been made applicable by the Central Government by notification in the Official Gazette. In order to extend social security benefits to all the 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. As on 31.03.2019, 197 industries/classes of establishments are notified for coverage which has brought 4.69 crores contributory members within ambit of EPF.