EPFO is investing in exchange traded funds based on Nifty 50, Sensex and central public sector enterprises.
New Delhi: The labour ministry today said retirement fund body Employees Provident Fund Organisation (EPFO) has invested Rs 18,609 crore in exchange traded funds (ETFs) till February 2017.
"The EPFO is investing in exchange traded funds (ETFs) based on Nifty 50, Sensex and central public sector enterprises (CPSE) indices and does not invest in shares and equities of individual companies," the ministry said in a press statement.
According to the statement, the total amount invested by the EPFO in ETFs as on February 18 is Rs 18,609 crore -- Nifty 50 and Sensex index based ETFs: Rs 17,105 crore and CPSE index based ETF: Rs 1,504 crore.
The Employees' Provident Funds and Miscellaneous Provisions (EPF and MP) Act, 1952, is applicable to every establishment employing 20 or more, which is engaged in any industry specified under the law. It said an Employees' Enrolment Campaign, 2017, has been launched for January 1 to March 31, 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 enrol employees who remained un-enrolled between April 1, 2009 and December 31, 2016, by making a declaration. Labour Minister Bandaru Dattatreya shared the information in a written reply in the Rajya Sabha today.