EPFO board takes final call: Centre

Aug 30, 2010 |

Correspondent

Amid reports of differences with the finance ministry over deployment of employees provident funds, the labour ministry has said the decision of EPFO trustees would be “final and supreme”. The finance ministry wants the labour ministry to follow the investment pattern that it has notified, providing for up to 15 per cent of the `5 lakh crore provident fund corpus being invested in stock markets. “Central Board of Trustees (CBT) decision is final and supreme. We would go by that. This matter would be placed before trustees in their next meeting scheduled on September 10,” the labour secretary, Mr P. C. Chaturvedi, said
on Saturday.

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