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The investment of Employees Provident Fund Organisation (EPFO) into equity markets could go beyond 5% depending on the response from the initial investment of up to 5%, said Union Minister for Labour Bandaru Dattatreya.
Speaking to the reporters after inaugurating the National ER Conference by the Employer's Federation of South India, he said that the Finance Minister has guided the Ministry to invest in the equity markets with 5-15% of the fund, of which the ministry is starting with 5%.
Starting with 1% investment from the social security fund this month, the government is targeting to take it up to 5%, which could be around Rs 6,000 crore, by the end of this fiscal year.
