also invest up to 55 per cent of its Rs 6 lakh crore corpus in government securities while up to 5 per cent can be put in money market instruments including units of mutual funds.
PF enrolment records slowest growth in 3 years
New Delhi: The coverage of the Employees’ Provident Fund seems to be flagging once again, with enrollment of members recording its slowest growth in three years.
According to the EPFO’s Annual Report, just about 32.22 crore new subscribers joined the EPFO in the last fiscal, which is a mere 3.77 per cent increase in membership to 887.62 lakh. In 2011-12, new enrollments jumped by 38.86 per cent to 855.40 lakh members.
More worryingly, PF contributions by exempted sectors dipped by 10.33 per cent to Rs 14,458.41 crore in 2012-13 as compared to Rs 16,123.50 crore in 2011-12.
However, total contributions to the EPFO grew at 8.46 per cent to Rs 60,256.80 crore last fiscal with unexempted PF trusts collecting Rs 45,798.39 crore as contributions.
The Annual Report will be cleared by the EPFO’s Central Board of Trustees in its meeting on January 13, before being tabled in the Parliament. Surabhi