EPFO investment in IL&FS has not turned bad: Audit committee member

The EPFO's CBT will decide the interest rate for subscribers for 2018-19 in its Thursday meeting

The Employees’ Provident Fund Organisation (EPFO) has an exposure of Rs 570 crore towards crises-hit Infrastructure Leasing & Financial Services (IL&FS) and is receiving regular returns to date, a member of EPFO’s finance and audit committee said on Wednesday.

The finance, investment and audit committee (FIAC) of the EPFO, which met on February 12, discussed the EPFO’s exposure with the IL&FS, which might also come up for discussion in a meeting of its Central Board of Trustees (CBT) headed by Labour and Employment Minister Santosh Kumar Gangwar on Thursday.

“In the FIAC meeting, it was found that the EPFO’s investment