Board of trustees okays EPFO exit from DHFL

Board of trustees okays EPFO exit from DHFL
23/08/2019 , by , in ALLIED

The central board of trustees has allowed the Employees’ Provident Fund Organisation to exercise an exit option for recovering the pending Rs 600 crore from Dewan Housing Finance Corporation (DHFL), and approved appointment of three fund managers to manage its corpus.

However, the proposal to double the minimum pension to Rs 2,000 has been put on hold, with labour minister Santosh Kumar Gangwar suggesting the issue be taken up with the finance ministry.

The decision was taken at the 225th board meeting of the EPFO, chaired by Gangwar, in Hyderabad on Wednesday.

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