Very soon you will be able to track the equity investment in your provident fund account. The Employees’ Provident Fund Organisation (EPFO) last month announced that it would credit exchange traded fund (ETF) units in the provident fund account of subscribers. This means, the equity component of your EPF money will get unitized and you will not only be able to track your EPF investments in equities but also realise the gains from the stock market at the time of withdrawal. “At our end, this will need a major software change because the EPF account of the subscribers will get bifurcated into two accounts: one will be the cash account, in which interest will get credited each year like it happens even now, and the second will be the ETF account in which the subscribers will be able to see the units they hold and the NAV (net asset value) of that day,” said V.P. Joy, Central Provident Fund Commissioner. “This is a substantial task and we are hoping to ready our software for an implementation date of 1 April,” he further added.
75 years to reach per capita income of $2730, will take only 5 years to add another $2000, FM Sitharaman
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