EPFO is most important retirement fund body. Moreover, EPFO full form is Employees Provident Fund Organisation. In addition EPFO is making news. Before it was because of PF contribution. As you know employees and employers contribute to PF. Therefore both of them contribute to PF fund.
Investment amount EPF decided: Labour Minister
In this latest news on EPF. You will know about investments of EPF organisation. Because this retirement fund body decided investment amount. In addition Bandaru Dattatreya is Union Minister and he said this. And the Minister of Labour and Employment cleared every question or doubt. While earlier there was announcement of EPFO withdrawals more easy than before: Employees’ Provident Fund Organisation news.
Mr. Dattatreya said that EPFO planned to investment Rs. 20, 000 crore. However this was only in ETF. Moreover ETF is short form for exchange traded funds. Therefore this EPF investment is only for this fiscal. So authorities took this decision after checking all things.
Thus provident fund organisation raised investment limit in ETF. But this decision came after many hours of discussion.
CBT EPFO meeting
There was a meeting of EPFO and Central Board of Trustees. And only after this final decision took. CBT and Employees Provident Fund Organisation had meeting in Pune. In this meeting there was discussion on ETF investment.
Because earlier EPF investment in exchange traded fund was 10%. However now there was plan to increase this investment to 15%. Moreover this was only for investible deposits. Finally Union Minister of State for Labour and Employment told about this.
Mr. Dattatreya said that EPF will investment Rs. 20, 000 crore. In addition this investment is only for exchange traded funds. Now it is to see what happens to this. As provident fund organisation plans to help employees and employers.
Apart from that. Such a decision will effect interest rate of EPF. However as of now it is better if you choose EPF investment. As when you invest in EPF than fixed deposit with 8.65% interest rate. So you know that EPF interest rate is 8.65%. Besides this interest rate is also good.
Finance Ministry decision
Even Finance Ministry thought of investments of ETF. And that is why he had idea of investment pattern. In addition this is for EPFO. Therefore now EPFO can investment 15% funds. But this investment is only for equity. Or at the max anything related to equity schemes.
Further EPFO increased another 5 % of investment. Hence now these investments are 15 %. Additionally these deposits will be investible deposits in ETF. Besides even other things are in discussion. So you must wait and see to what will be next news on EPF India.
Finally you know about EPFO investment to be about Rs. 20, 000 crore in equities. And this will be same for 2017-18. While till then you can read how to check EPF balance online. While there is option of Set EPFO claims via mobile and steps to settle EPF claim.