new Delhi . EPFO will pull out equity investment worth Rs 12,785 crore from ETFs. Out of this, about Rs 5529 crore will be used for paying interest for FY22. EPFO had made this investment during July-December 2017 under the accounting rule called FIFO. In the middle of the year 2017, EPFO invested Rs 7,255 crore and will now sell it for Rs 12,785 crore. Money Control has broken this exclusive news.
A senior EPFO board member said that selling this investment would result in a capital gain of Rs 5,529 crore. This profit will be added to the income of the financial year 2021-22. It will be used to pay interest for FY22.
EPFO’s decision making body CBT (Central Board of Trustees, CBT) has a meeting in Guwahati on 11-12 March. In this meeting on March 12, the EPF interest rate for the financial year 2011-22 will be announced.
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