The Workers’ Provident Fund Organisation (EPFO) has invested Rs 7,715 crore in fairness until June 30 in 2021-22, Minister of State for Labour and Employment Rameshwar Teli said in a written reply within the Lok Sabha.
Nonetheless, the minister added that the EPFO invests solely in Change Traded Funds (ETFs) by ETF producers (SBI-Mutual Fund and UTI-Mutual Fund) and never in particular person shares.
A joint illustration was acquired from some commerce unions on involving staff within the choice making course of whereas investing in fairness.
Finance Funding and Audit Committee (FIAC) and the Central Board of Trustees of EPFO, that are mandated for investing in equities and different devices, have representatives of staff.
The fairness funding 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.
The minister additionally said that the EPFO has acquired Rs 57,846 crore as contribution from its subscribers within the first quarter of this fiscal (April-June 2021).
The physique had acquired 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 one other reply, the minister stated as on July 26, 2021, good thing about Rs 1,193.18 crore has been supplied to 25.57 lakh staff by 91,129 institutions beneath Aatmanirbhar Bharat Rozgar Yojna (ABRY).
The ABRY has been prolonged as much as March 2022. It was launched with impact from October 1, 2020 to incentivise employers for creation of recent employment together with social safety advantages and restoration of lack of employment throughout COVID-19 pandemic. The scheme goals to learn estimated 71.80 lakh folks.
This scheme, being carried out by the EPFO, reduces monetary burden on employers in numerous sectors like MSMEs and encourages them to rent extra staff.
Below ABRY, the Authorities of India is bearing for a interval of two years, each the workers’ and employers’ share (12 per cent of wages every) of EPF contribution payable or solely the workers’ share, relying on employment power of the EPFO registered institutions.
In one other reply, the minister stated, “As on July 27, 2021, over 45 lakhs staff (together with bulk enrolment) have been enrolled beneath the Pradhan Mantri Shram Yogi Maan-dhan Yojana (PM-SYM).”
Life Insurance coverage Company (LIC) is the fund supervisor of the scheme. The PM-SYM is a pension scheme for unorganised sector staff.