In its meet scheduled for September 9, 2020, the CBDT will take a decision on selling its old ETF holdings. And the return from these ETF sale which is estimated to earn Rs. 2700 crore and are valued at Rs. 6000 crore, the provident fund organization will not only be able to make up for the return it promised to its subscribers in March this year, but also will get a surplus of Rs. 500 crore which it will keep as reserves.
EPFO To Decide On Sale Of ETFs, To Meet FY20 EPF Rate Of 8.5%
The sale was to be made in March itself but the market crash then prevented the sale and the earlier proposal which was valid till June will have to be again renewed.
For the 8.15% interest, the organization's debt investments holds good but for the remaining 0.35% ETF sale has to be done.
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