EPFO invested about Rs 24,980 crore in ETFs as of June 30 and bazaar bulk of this advance was Rs 28,115 crore.
Hyderabad: Retirement armamentarium anatomy EPFO has added over 1 crore new subscribers amid January 1 and June 30 this year, Union abbot Bandaru Dattatreya said today.
“In the complete sixty years afterwards Independence, the cardinal of PF subscribers was 4.3 crore and that of ESIC (Employees State Allowance Corporation) subscribers was 1.9 crore. We accept undertaken a civic attack for enrolment of new subscribers. We additionally offered incentives for the continuance of the campaign,” the Union labour abbot told PTI here.
“We got new 1.01 crore registrations in PF abandoned and beneath ESIC we accept added 1.20 lakh new subscribers to the complete two crore,” he said. A chief ESIC official said the new subscriptions came from enrolment of about 97,000 business establishments in the accomplished six months beneath the ‘Scheme to Promote Registration of Employers/ Employees’ (SPREE).
The Employees Provident Armamentarium Organisation (EPFO) has invested about Rs 24,980 crore in exchange-traded-funds (ETFs) as of June 30 and the bazaar bulk of this advance was Rs 28,115 crore with an complete acknowledgment of 12.55 per cent on that date, Dattatreya said.
“In 2017-18, we are activity to advance Rs 23,000 crore in ETFs. It is about 15 per cent of the investible bulk of EPFO,” he said.
The alimony anatomy has asked the Indian Institute of Management, Ahmedabad to abstraction and accord a address on ETF investments and cost of benefit from these investments, he said. Investible assets is the net assets of the EPFO from the investments it has already fabricated in assorted forms and beginning contributions, amid others. Last year, the investible assets was about Rs 1.50 lakh crore, a chief EPFO official had said earlier.
The abbot said the EPFO afresh active agreements with bristles banks for accumulating of provident armamentarium and authoritative payments of withdrawals, alimony and allowance with aught transaction charges.
These tie-ups with Bank of Baroda, ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank will advice the EPFO save about Rs 125 crore a year and accelerate acquittal of allowances to members, he said.
The EPFO, which started advance in ETFs in August 2015, currently has a bulk of over Rs 8 lakh crore.
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