THIRUVANANTHAPURAM: Rs 12 lakh crore have been accumulated in the country as six crore employees pays 12% of their salary every month as Provident fund. Yet the provident fund only gave a meagre amount as pension. But now justice has been served in this matter after years of legal battle.

The workings of EPFO, which has a total of 75 lakh pensioners, is very mysterious. No one knows where the money is going and where it is coming from. The interest on employees' deposits is just 8.5 %.

The government is trying to strengthen the EPF organization by appointing skilled personnel. EPFO has total assets under management of Rs 12 lakh crore. Not all EPFO ​​employees are financial experts or trained in it. They cannot handle so much money. In 2019, EPFO ​​had appointed SBI Mutual Fund and UTI Asset Management as fund managers for three years. EPFO does not invest directly in shares. PF Interest rates change frequently. This will be decided by the central board.