Hike funding

EPFO postpones increase in equity funding cap

The Central Board of Trustees (CCT) Employees Provident Fund (EPFO) postponed a call on extending the fair funding limit from 15% to 20% at a meeting on Saturday, citing the unstable market situation.

The board has accepted the higher equity allocation theory to bolster returns in theory, but will talk about the issue later after September, officials said.

The era of CBT-licensed facial authentication for virtual life certificate, authorized a new central payment scheme for retirees and offered a thorough prison framework to minimize litigation, they said. The board also mentioned tactics to allow freelancers and other non-union members to register with EPFO.

“The board agreed to raise the (investment) limit to increase earnings, but felt that now was not the right time to change the equity exposure, as the market is still sensitive to global shocks,” a reputable man said wisely on the subject. The factor could be resumed during the next assembly.

The PF organization is recently allowed to take a stand of up to 15% of its additional equity inflow. Its Financial and Investment Audit Committee (FAIC) had authorized the proposal to revise the limit to 20%, believing that advertising above the shares would perhaps produce higher returns.

EPFO introduced 8.1% hobbies for FY22, the lowest since FY 1977-78, when it credited 8.0% hobbies. He had credited 8.5% in fiscal years 21 and 20.

Unions were opposed to any financing in the stock markets via the EPFO, as these do not appear to be sponsored via government pledges. They cited the hunch shortly after the pandemic hit, when the equity return was once negative at 8.29%. EPFO began investing in stocks through an exchange-traded price range (ETF) in August 2015.

Face authentication will allow retirees to enjoy the benefits of home. “The CBT has approved facial authentication technology for digital life certificates,” Labor and Employment Minister Bhupendra Yadav said after the assembly. “From now on, pensioners will no longer have to go anywhere for their EPFO ​​pension.”

He added that the organization is working to increase the convergence of the Employees State Insurance Corporation (ESIC) scheme with the Ayushman Bharat scheme to bring the unorganized sector into the internet of social security and provide cashless science equipment across the country. Currently, the Convergence Facility is limited to a few States.