EPFO: Here’s how much the retirement fund body invested in equity in April-June
EPFO has received Rs 57,846 crore as contribution from its subscribers in the first quarter of this fiscal
EPFO has made equity investments to the tune of of Rs 7,715 crore in the first quarter of this fiscal, Minister of State for Labour and Employment Rameshwar Teli said in a written reply in the Lok Sabha. The retirement fund body can invest up to 15% of investment in equity as per rules. The EPFO invests only in Exchange Traded Funds through ETF manufacturers (SBI-Mutual Fund and UTI-Mutual Fund) and not in individual shares. The equity investment of the EPFO was Rs 31,025 crore in 2020-21, Rs 32,377 crore in 2019-20 and Rs 27,743 crore in 2018-19.
Teli also said that EPFO has received Rs 57,846 crore as contribution from its subscribers in the first quarter of this fiscal (April-June 2021).
The body had received Rs 2,18,345 crore contribution from its subscribers in 2020-21. It was Rs 2,19,325 crore in 2019-20 and Rs 1,87,214 crore in 2018-19.
In another reply, the minister said as on July 26, 2021, benefit of Rs 1,193.18 crore has been provided to 25.57 lakh employees through 91,129 establishments under Aatmanirbhar Bharat Rozgar Yojna (ABRY).
The ABRY has been extended up to March 2022. It was launched with effect from October 1, 2020 to incentivise employers for creation of new employment along with social security benefits and restoration of loss of employment during Covid-19 pandemic. The scheme aims to benefit estimated 71.80 lakh people.
This scheme, being implemented through the EPFO, reduces financial burden on employers in various sectors like MSMEs and encourages them to hire more workers.
Under ABRY, the Government of India is bearing for a period of two years, both the employees’ and employers’ share (12% of wages each) of EPF contribution payable or only the employees’ share, depending on employment strength of the EPFO registered establishments.
Download Money9 App for the latest updates on Personal Finance.
