New Delhi: The Employees’ Provident Fund Organisation (EPFO) on Thursday bluntly rejected the finance ministry’s proposal to park up to 15% of its depositors’ retirement fund in stocks and other equity instruments.
Sources said the finance and investment committee of EPFO was opposed to the proposal to invest up to 15% of the Rs1.8 trillion provident fund corpus in stocks or equity linked mutual funds, considering the volatility in the market.