Ministry of Labour and Employment makes changes in the Employees' Provident Funds and Miscellaneous Provisions Act, 1952

Last updated: 06 January 2021

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The Ministry of Labour and Employment has introduced amendments to the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. These changes, effective from December 11, 2019, permit investments in Units of Debt Exchange Traded Funds (ETFs). These ETFs are specifically designed to invest in bonds issued by Central Public Sector Enterprises, Central Public Sector Undertakings, Central Public Financial Institutions, and other Government organisations.

The Ministry of Labour and Employment, in exercise of the powers conferred by clause (a) of sub-section (3) of section 17 has madechanges in the Employees Provident Funds and Miscellaneous Provisions Act, 1952. Read the official notification below: MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 4th January, 2021 S.O. 28(E).In exercise of the powers conferred by clause (a) of sub-section (3) of section 17 of the Employees Provident Funds and Miscellaneous Provisions Act,

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FAQ :

The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 is an Act of Parliament of India that provides for the establishment of provident funds, pension schemes, and deposit-linked insurance schemes for employees.

The Ministry of Labour and Employment has amended the Act to allow investments in Units of Debt Exchange Traded Funds (ETFs) that invest in bonds of Central Public Sector Enterprises and other government organisations.

The amendments are effective from the 11th day of December, 2019.

Investments in Units of Debt Exchange Traded Funds (ETFs) are now permitted, provided they are regulated by the Securities and Exchange Board of India and managed by an asset management company appointed by the Government of India.

These specific Debt ETFs are meant to invest in the bonds of Central Public Sector Enterprises, Central Public Sector Undertakings, Central Public Financial Institutions, and other Government organizations.

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