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Necessary action is taken in each such case, says Minister The Employees’ Provident Fund Organisation (EPFO) has faced ₹1,163.14 crore defaults in its investments, the Labour and Employment Ministry informed the Rajya Sabha on Wednesday. To a question by CPI MP Elamaram Kareem, Labour and Employment Minister Santosh Kumar Gangwar said the EPFO had made “investments in various bonds and other instruments following the pattern of investments notified by the government of India that have so far been beneficial to it”. However, he said the securities belonging to the Dewan Housing Finance Corporation Ltd (₹760.69 crore), Infrastructure Leasing & Financial Services Limited (₹106.23 crore), Reliance Capital Limited (₹292.64 crore), Punjab State Industrial Development Corporation Ltd (₹2.98 crore) and Punjab Financial Corporation (₹60 lakh) “have resulted in default of certain principal amounts and interest due”.

Santosh kumar gangwarElamaram kareemDewan housing finance corporation ltdReliance capitalPunjab financial corporationEmployment ministryInfrastructure leasing financial servicesPunjab state industrial development corporation ltdEmployee provident fund organisationRajya sabhaEmployment minister santosh kumar gangwarInfrastructure leasingFinancial services limitedReliance capital limitedExternal concurrent auditorசந்தோஷ் குமார் கேங்வார்