EPF shock: More than 11.78 million contributions not remitted – Minister Lokuge



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The Employment Provident Fund had not received the contributions of 11,781,593 members as at December 31, 2012, according to a document tabled in Parliament yesterday. The document was tabled by Labour Minister Gamini Lokuge.


Action was being taken to recover the relevant contributions immediately after the unpaid accounts had been identified through inquiries conducted by Labour Officers in the field and through complaints received by the Fund. Some of those unpaid members were engaged in services that had not yet been exposed to the officers.


Total value of the EPF belonging to the employees of the country was Rs 1,144,4-09,000,647.50 as at Dec 31, 2012.


Those funds had been invested in 76 companies, the document tabled in response to a question raised by UNP Colombo District MP Ravi Karunanayake, revealed. (SI)


 
 
 
 
 
 
 
 
 
 
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