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Investment options for EPF under study

Written by: Staff

New Delhi, Mar 13 (UNI) The Central Board of Trustees of the employees Provident Fund has approved a proposal for engagement of M/S Mercer Human Resource Consulting as consultant for one time study of the investment options for the Fund, the Lok Sabha was told today.

Minister of State for Labour and Employment Chandra Shekhar Sahu said, in a written answer, that trade unions had raised certain objections in this regard which included alleged involvement in providing inaccurate information to New York Stock Exchange in the matter of compensation package to its Chairman and allegation of wrong doing against its sister concern, March Inc.

He said the matter was referred to the consultant for their comments and it was clarified by them that their role was restricted to advice on actuarial and pension related matters and did not involove providing of advice or services concerning the Comensation Committee's annual decisions regarding compensation of NYSE employees, including the Chairman.

In regard to the second allegation, it was clarified by the same consultant that it was an independent company, run entirely by its own management and responsible to its own Board of Directors.

UNI YS VD KP1338 1330

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