|Monday, April 30, 2007|
|Ministry of Labour & Employment|
FUNDS IN EPF AND THE INVESTMENT PATTERN
The Provident Fund contributions received during 2003-04, 2004-05 and 2005-06 were Rs. 830,191.42 lakh, Rs. 975,933.86 lakh and Rs. 1,179,266.59 lakh respectively.
The break-up of investments of the Fund as on 31.12.2006 is as under:
(Rupees in Crores)
As per Para 60(1) of the Employees’ Provident Fund Scheme, 1952, the interest shall be credited to the account of each member at such rate as may be determined by the Central Government in consultation with the Central Board. The outgoing member is paid the amount standing to his credit alongwith the up-to-date interest. However, the rate of interest for the years 2006-07 was not paid pending declaration of rate of interest.
This was stated by the Minister of State (Independent Charge) for Labour and Employment, Shri Oscar Fernandes in written reply in Lok Sabha today.
MLD/LK/L-254( LS- Funds in epf) April 30