Employees' Provident Fund (Sri Lanka)

Last updated
Employees' Provident Fund
Founded1 June 1958;66 years ago (1958-06-01)
Founder T. B. Ilangaratne
Headquarters30, Janadhipathi Mawatha, Colombo 01.
RevenueIncrease2.svg Rs 222.44 billion (2018) [1]
Decrease2.svg Rs 210 billion (2018)
Decrease2.svg Rs 190.61 billion (2018)
AUM Increase2.svg Rs 2,298.8 billion (2018)
Total assets Increase2.svg Rs 2,133 billion (2018) [2]
Owner Central Bank of Sri Lanka
Parent Ministry of Finance
Website epf.lk

The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, [3] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [4] The EPF offers a joint action plan by the employer and the employee to save money by targeting retirement and future to the government as well as the private sector. EPF invests in most Sri Lankan private companies such as Vallible One and Commercial Bank of Ceylon.

Contents

See also

References

  1. ↑ "Welcome to Employees' Provident Fund, Central Bank of Sri Lanka, EPF Sri Lanka". Employees' Provident Fund. Retrieved 2020-12-23.
  2. ↑ "Employees' Provident Fund AUM". www.epf.lk. EPF. Retrieved 15 December 2020.
  3. ↑ "Employees' Provident Fund Division". Department of Labour, Sri Lanka. Retrieved 19 March 2016.
  4. ↑ "Editorial - EPF money is sacred: Stop this gambling". Daily Mirror, Sri Lanka. Retrieved 19 March 2016.
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