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The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management.
Legally, the EPF is only obligated to provide 2.5% dividends (as per Section 27 of the Employees Provident Fund Act 1991). [ 8 ] The EPF claims that the lowered dividend is the result of its decision to invest in low-risk fixed revenue instruments, which produce lower returns but maintains the principal value of its members' contributions.
The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike , [ 3 ] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [ 4 ]
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."
North Korean troops have begun engaging in combat operations alongside Russian forces, the U.S. State Department said on Tuesday, expressing concern that Russia had turned to North Korea for ...
Visitors can track Santa's flight from 4 a.m. to midnight MST. Trackers worldwide can also call 1-877-HI-NORAD (1-877-446-6723) on Dec. 24 to ask live operators about Santa's location from 6 a.m ...
Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India; Employees Provident Fund (Malaysia)
The Federal Reserve today made its final interest rate decision of 2024, capping a year during which the central bank provided some financial relief to inflation-weary borrowers in September by ...