New Delhi: The parliamentary committee on Labour is set to scrutinize the Rs 10 trillion corpus under the Employees Provident Fund Organization (EPFO) in its upcoming meeting and it will also look at the performance of the fund management and investments made.
This is the first time in the last one year when EPFO will come under parliamentary scrutiny. The standing committee on Labour, scheduled to meet on 21 October, is also planning to look at ways to make EPFO more fruitful for working class, organized and unorganized sectors.
Earlier EPFO was confined only to workers of the organized sector but the National Democratic Alliance (NDA) extended this scheme to the unorganized sector by introducing the Pradhan Mantri Shram Yogi Maan-Dhan Yojana. The central scheme gives an opportunity for people to choose between EPFO and National Pension Scheme (NPS).