Apr 04, Kathmandu- The Employees Provident Fund has distributed around Rs 5.34 billion profit to savers and contributors from the total profit earned in the last fiscal year. The fund has stated that around Rs 5.27 billion has been deposited in the savers' accounts and around Rs 64.3 million has been deposited in the contributors' accounts of the contribution-based pension fund.

The meeting of the Fund Board of Directors on Chaitra 17, while approving the financial statements for the fiscal year 2080/81, decided to distribute the amount at the rate of 1.10 percent of the opening balance in the personal accounts of savers and contributors as profit.

The Fund distributes 92 percent of the total profit earned in each fiscal year to the depositors for profit and welfare purposes. The remaining amount is kept in various reserve funds.

The Fund is providing interest at the rate of 5.50 percent on the deposited amount to the depositors and contributors in the current fiscal year. In the security of the deposited amount, the depositors and contributors have been getting special loans from the Fund up to 90 percent of the deposited amount at an interest rate of 6.60 percent.

The Fund has been providing special, housing, educational, home repair, simple and land purchase loans since the past with the aim of fulfilling the needs of the savers and contributors during their service period.

The Fund has been providing health treatment reimbursement facilities to the saver couple from its own resources without the savers having to make a separate contribution. Similarly, it has been providing social facilities including labor subsidy, maternity and child care facility, accident compensation grant and others.

Under this, the fund has stated that in the last fiscal year, 146.5 million rupees were provided for maternity and child care facilities, 28.2 million rupees for labor subsidy, 21.4 million rupees for accident compensation, 346.5 million rupees for health treatment reimbursement, and approximately 7 million rupees were provided to 47 civil servants for special financial facilities.

Currently, the fund has 575,000 savers and 80,400 pension fund contributors.