The Central Board of Trustees, Employees' Provident Fund had recommended to the Government for inclusion of National Savings Certificates and Post Office Termed Deposit Receipts in the pattern of investment.
The matter was examined in consultation with the Ministry of Finance. Government Savings Banks Act, under which the small savings schemes including the National Savings Certificates and Post Office Time Deposit Schemes are being implemented, has been amended through the Finance Act, 2005 to restrict investment in these Schemes to individuals only. Accordingly, it was found not possible to allow EPF investment in these Schemes
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