KATHMANDU: The Employees’ Provident Fund has invested Rs 287 billion or 98.34 per cent of the total fund in different sectors.
Out of total investment, 58 per cent has been disbursed as loan to its contributors, 16 per cent as project loan, 19 per cent is in fixed deposit of commercial banks and the remaining seven per cent has been invested in other sectors.
At the 57th anniversary of the EPF, it was shared that a total of Rs 292 billion has been deposited in the Fund. The EPF made a net profit of Rs 3.52 billion in the fiscal year 2017/18.
Addressing the ceremony, Finance Minister Yubraj Khatiwada said the government was doing homework to provide social security to those employed in agriculture, labour and other sectors through the Fund.
Revenue secretary at the Finance Ministry, Shishir Kumar Dhungana, said preparations were underway to constitute a body to regulate all sorts of funds. EPF contributors should be entitled to its facilities as per the principle of social justice.
EPF administrator Tulsi Prasad Gautam informed that the programme planned to bring employees of all sectors to the system and benefits of EPF.
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Written by Prahlad Rijal
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