Employee Provident Fund's 61st Anniversary; The Amount in the Provident Fund Reaches Rs. 416.36 Arba
Employees' Provident Fund's pension scheme company extends best wishes to all stakeholders on the auspicious occasion of the fund's 61st anniversary.
Financial State as of FY 2078/79:
Provident Fund - Rs. 416.36 Arba
Pension Fund - 3.17 Arba
Reserve Fund and Savings - 34.20 Crores
Liabilities - 5.70 Arba
Total Source - Rs. 458.43 Crores
Total Investment - Rs. 448.64 Arba
Total Provident Fund Contributors - 5.55 Lakhs
Total Pension Fund Contributors - 45,850
Here are the major achievements made by the Employees' Provident Fund for the Financial Year- 2078/79.
- Loans for the purchase of land can be used by accumulators up to Rs. 1 crore
- The special loan number's online transactions account for 60% of all transactions.
- The creation of a mobile app to improve the technology-friendliness of the fund's service capabilities. Through non-contributory social security programs, 22,252 savers and their beneficiaries received more than Rs 43.8 Crore.
- Creating mobile apps to make the fund's services more technologically advanced.
- The process for offering depositors who routinely pay mortgage-based loan interest on a quarterly basis a 0.25 percent rebate on their interest.
- Regular updates to numerous policies, regulations, practices, and directives.
- Over 92% of depositors' personal information (KYC) has been updated.
- The award-winning "Funding Association of Development" in the genre given by Financing Institutions in Asia and the Pacific, which recognizes technological advancements in recognition of the importance of offering online services to depositors.
- The accounting work for the company's fiscal year 2079–2080 has begun with the updating of depositors' annual transaction information.
- Rs. 5.57 Arba has been allowed to offer loans from the fund through single and bank co-financing in 7 projects, in line with the policy of boosting the fund's investment in housing, infrastructure, and energy development projects.
- Rasuwagadhi, Madhyabhotekosi, and other public sector-sponsored hydropower projects that have received prior investments and are now being built have received a combined amount of Rs. 5.61 Arba institutional loans and an additional Rs. 3.32 Arba long-term loans.
- The 99.8 MW Tamakosi Fifth Hydropower Project loan investment Memorandum of Understanding (MOU) between the Fund and the Authority has been finalized, and the loan approval process has begun.
- Extra investments in promoter shares from various organizations amounted Rs. 78.25 crore in the fiscal year 2078–1979, while additional investments in debentures from various commercial banks totaled Rs. 1.9 Arba.
- Work on the building in Kohalpur is finished, while work on the office building in Surkhet is nearing completion. Work on office buildings has also begun in Pokhara, Hetauda, and Janakpur.
