Monday, 2 September 2019

Silver for PF account holders, EPFO ​​granted new decision

Silver for PF account holders, EPFO ​​granted new decision

EPFO has appointed UTI AMC and SBI Mutual Fund for three years as its fund manager on August 7.  The proposal for premature redemption was also approved in the meeting of the trustees of the EPFO, which invested around Rs 1 crore in the bond of Dewan Housing Finance Corporation Limited (DHFL).

The source said that the Central Board of Trustees (CBT), the supreme body that decides the EPFO, has decided to appoint two fund managers UTI AMC and SBI Mutual Fund for three years.  The source further said that under the Employee Pension Scheme, the proposal for raising the minimum monthly pension to Rs 5 has been postponed.

Because employees' representatives have demanded more money as pensions.  The government will talk to EPFO ​​about raising the minimum pension soon.  However, the EPFO ​​had earlier refused to increase the minimum pension, saying it was not an extra rupee.  But after launching a pension scheme for farmers, workers and traders, the government has now made up its mind to increase the pension amount of EPFO ​​pensioners.

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