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EPF Board fails to decide on investments

Special Correspondent

New Delhi: The Central Board of Trustees of the Employees Provident Fund (EPF) on Thursday failed to take a decision on the proposed five per cent investment of EPF money in equity for mobilising additional resources to bridge the Rs. 370 crore deficit. The amount was to be raised to fulfil the shortfall created by payment of an interest of 8.5 per cent to its four crore subscribers for 2005-06.

The meeting, chaired by Labour Minister K. Chandrasekhar Rao, also could not arrive at any conclusion on the corrective measures to meet the projected deficit in the pension fund.

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