KATHMANDU, September 16: The Employees Provident Fund (EPF) has invested a total of Rs 436.54 billion in the six decades of its establishment.
According to the EPF, it currently has Rs 398.06 billion in its reserve fund and Rs 1.58 billion in the pension fund. The public sector undertaking has been investing the funds collected from the employees in mega projects, companies’ shares and borrowings by its depositors, among others.
The government established the EPF to provide social security schemes to the civil servants which was later opened for the staff of the private sector companies. It has been providing insurance worth up to Rs 1 million to its depositors.
Speaking at a program to mark the 60th anniversary of EPF on Thursday, Finance Minister Janardan Sharma stressed the need for diversifying the EPF’s investment portfolio so as to generate more employment.