Employees’ Provident Fund Distributes NPR 5.3 Billion Profit for Fiscal Year 2081/82

The Employees’ Provident Fund (EPF) has distributed NPR 5.3 billion as profit to its depositors and contributors from the total earnings of the fiscal year 2081/82. According to the fund, around NPR 5.19 billion was credited to individual depositor accounts, while NPR 105.5 million was credited to the accounts of contributors under the Pension Fund. Following the decision of the Board of Directors on Falgun 27, a profit equivalent to 1.00 percent of the opening balance in individual accounts was distributed. The fund follows a policy of depositing about 90 percent of the annual profit into depositors’ accounts, while the remaining is allocated to various welfare and reserve funds. Currently, depositors earn an interest rate of 8.25 percent, which, combined with the 1.00 percent profit, brings the total return to 9.25 percent. In addition, the fund provides loans for housing, education, maintenance, simple loans, and land purchase. In the last fiscal year alone, it disbursed millions of rupees for maternity and child care, condolence grants, accident compensation, and medical treatment. The EPF currently has 578,000 depositors and 96,000 contributors under the Pension Fund.