EPFO decides to reject FinMin advise to invest in stock market
28. Aug, 2010 
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Earlier this April, the Trade Unions were mounting pressure on the EPFO to hike its PF interest rates from the present 8.5% to as much as 9.5% – 10%. EPFO is sitting on corpus fund of over 5 lakh crore rupees ( how many zeros is that?!?!) from a subscriber base of 4.7 crores. During the EPFO’s meeting in August, over the decision to invest a part of the funds in equity, it was again the Labour Union (in fact only Hind Mazdoor Sabha who was present) who vehemently opposed this plan.
I wonder what were the Unions are really thinking. Will EPFO ever be able to generate gains through its present investments even to pay the interest rate of 8.5% . Hope EPFO doesn’t cut down on the benefits in its attempt to sustain itself.
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