Govt mulls norms to split PF money in stocks

The Finance Ministry is in favour of two contrasting norms when it comes to investing part of corpus with Employees' Provident Fund (EPF) and Government Provident Fund (GPF) in stocks.

The Finance Ministry is in favour of two contrasting norms when it comes to investing part of corpus with Employees' Provident Fund (EPF) and Government Provident Fund (GPF) in stocks.

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While it has ruled out investing any amount from Rs 83,000 crore corpus with GPF in the stock markets, the ministry is pitching for parking a part of over Rs 5,00,000-crore fund managed by EPF in the equities markets.

GPF maintains the pension fund of government employees, while Employees Provident Fund Organisation (EPFO) manages retirement fund of private and public sector firms.

Last week, Minister of State for Finance Namo Narain Meena said no portion of the estimated Rs 83,363 crore corpus with GPF will be invested in stock markets.