In what can only be categorised as a New Year bonanza to benefit crores of EPF subscribers, media reports have emerged which says that it has allowed Employees’ Provident Fund Organisation (EPFO) and Exempted Provident Fund Trusts to invest in public sector debt ETFs (Exchange Traded Funds) like Bharat Bond ETF.
According to Live Mint, a notification in this regard was issued on January 4.
It is to be noted that Labour and Employment Minister Santosh Gangwar on December 31 announced that PF subscribers will start receiving 8.5 percent interest on their PF amount from the said day onwards.
In a written reply, Labour Minister Santosh Kumar Gangwarn in Lok Sabha in 2019 had said 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. As of September 2019, the total amount invested by EPFO in ETFs was Rs 86,966 crore. The Central…
