Employees’ Provident Fund Organisation (EPFO) is investing in Exchange Traded Funds (ETFs) based on Nifty 50, Sensex and Central Public Sector Enterprises (CPSE) indices. EPFO does not invest in shares and equities of individual companies.
The total amount invested by EPFO in ETFs as on 28th February, 2017 is as under:
(i) Nifty 50 and Sensex Index based ETFs: Rs 17,105 crore
(ii) CPSE Index based ETF: Rs 1,504 crore.
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.
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An Employees’ Enrolment Campaign, 2017 has been launched for the period 01.01.2017 to 31.03.2017 to bring in more workers under the ambit of EPFO. Under the campaign, an employer, whether already covered or yet to be covered, can enroll employees who remained un-enrolled for any reason between 01.04.2009 and 31.12.2016 by making a declaration of such employees during the campaign period.
Such declaration shall be valid only in respect of employees who are alive as on 1st January, 2017 and no proceedings under Section 7A of the EPF & MP Act, 1952 or under paragraph 26B of the Employees’ Provident Funds (EPF) Scheme, 1952 or under paragraph 8 of the Employees’ Pension Scheme (EPS), 1995 have been initiated against their establishment or employer, as the case may be, to determine the eligibility for membership of such employees.
This information was given by Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in a written reply to a question in Rajya Sabha today.