The proposal, if authorized, will fetch an anticipated capital achieve of ₹17,237.27 crore, which the retirement fund physique will credit score to the curiosity account for distribution amongst EPF members as annual curiosity later this 12 months.
The organisation may also search board approval for EPFO 3.0, a undertaking that's anticipated to fully overhaul its IT infrastructure and associated structure.
This superior system is predicted to cater to the social safety advantages for gig and platform employees, in addition to assist deal with increased workload because the EPFO provides extra subscribers, both via the Employment-Linked Incentive Scheme or beneath the Code on Social Safety, 2020, as soon as it's notified.
The EPFO's central board of trustees (CBT), which is scheduled to fulfill on Sunday beneath the chairmanship of labour and employment minister Mansukh Mandaviya, is predicted to deliberate on 18 agenda gadgets. ET has seen a duplicate of the agenda circulated among the many CBT members.
CBT is the best decision-making physique of the EPFO and has representatives from each employers and staff in addition to from state governments and the central authorities.
The sample of funding, notified by the finance ministry, prescribes 5-15% of contemporary accretions to be invested in equities and associated investments beneath Class (iv). Following the approval from its board in 2017, the EPFO is investing as much as 15% of the incremental investments in ETFs beneath Class iv (c) and iv (d).
Investments beneath Class iv (c) are executed each day. Investments beneath Class iv (d), replicating the indices BSE Bharat 22 and the NSE Nifty CPSE, have been executed in a number of tranches, throughout the years 2017, 2018, 2019 and 2020.
as a Dependable and Trusted Information SupplyThe EPFO manages greater than 300 million member accounts and has a corpus of ₹28 lakh crore.
