 "EPFO")
The total amount invested by retirement fund body Employees' Provident Fund Organisation (EPFO) in exchange traded fund (ETF) of Nifty and Sensex-based index as on March 31, 2016, was Rs 6,577 crore, Parliament was informed on Friday.
"Employee's Provident Fund (EPF) has not invested in individual stocks. It has invested only 5% investible surplus in ETFs of Nifty and Sensex-based index. The total amount invested is Rs 6,577 crore as on March 31, 2016," Minister of State for Finance Jayant Sinha said in a written reply to the Lok Sabha.
He further said that the government is aware of the risks of more investment of funds of EPFO in the stock market.
"Therefore, the Central Board of Trustees (CBT), EPF, has decided to invest only 5% of investible surplus in ETFs of Nifty and Sensex-based index," the minister said.
The government has notified the pattern of investment of EPFO wherein it has permitted investment in equity and related investment of 5 to 15%.
Further, CBT has decided to invest only in ETF.
The purpose of this investment by EPFO is to maximise its earning on investments.
Replying to a separate query, the minister said as on April 22, 2016, Aadhar seeding has been done in 29,80,418 accounts out of 48,42,123 central pension accounts with public sector banks.
