Conduct special audit of PF trusts: parliamentary panel to labour ministry

[Informalisation and Labour Rights - Related News]

A parliamentary panel has asked the labour ministry to conduct special inspection or audit of private Employees’ Provident Fund (EPF) trusts that have been found to be investing their workers' retirement savings in own firms through mutual funds. The private trusts, regulated by the Employees' Provident Fund Organization (EPFO), maintain Provident Fund (PF) accounts and retirement savings and are required to invest these funds as per the investment pattern approved by the government.