The funds of the Employees’ Provident Fund Organisation are invested
as per the Pattern of Investment notified by the Ministry of Labour and
Employment, Government of India, vide S.O. 2126 dated 09.07.2003.
The
Foreign Direct Investment is outside the purview of the said Investment Pattern.
Though investment in Bonds of National Highway Authority of India (NHAI) is
covered under the notified Investment Pattern, the Employees’ Provident Fund
Organisation has not made any investment in Bonds of NHAI till date.
The
funds of the Employees’ Provident Fund Organisation are invested according to
the Pattern of Investment prescribed by the Government of India. The pattern
allows investments in specified categories of securities only so as to minimise
risks. The investments of the Employees Provident Fund are also periodically
reviewed by the Finance & Investment Committee of the Central Board of
Trustees, Employees’ Provident Fund.
This information was given
by Minister of Labour and Employment Shri Mallikarjun Kharge in reply in reply
to a written question the Government has decided to use the employees pension
fund on foreign direct investment and National Highway projects; if so, whether
the consent of the representatives of employees/labourers has been taken in this
regard; the details thereof and the benefits likely to accrue to the pensioners
there from and whether the Government has set up any regulatory to safeguard the
employees funds or the pensioners in the events of loss in the investments.
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(Release ID :81211) |
