SECP nominates contact persons for provident funds statement

ISLAMABAD - Securities and Exchange Commission of Pakistan (SECP) Monday nominated sector-wise contact persons to facilitate submission of provident fund or provident fund trust six-monthly statement to the SECP.

The SECP has notified the Employees' Provident Fund (Investment in Listed Securities) Rules, 2016, on August 17, 2016, a statement said.

The sub-rule 5 of the rules requires every company constituting a provident fund or provident fund trust to submit a statement to the SECP, containing certain mandatory financial information.

The information to be submitted to the SECP includes size of provident fund or provident fund trust which is its total assets, cost of investment, fair value of investments and percentage of investment with break-up of fair value of investment out of provident fund or provident fund trust thereof; in listed debt securities, listed equity securities, listed debt collective investment schemes, listed equity collective investment schemes, government securities, bank balances and other investments respectively.

The companies are required to submit the statement and information within one month of the close of every six months of the financial year.

In order to facilitate submission of the aforesaid information to the SECP, sector-wise contact persons have been nominated by the SECP; with details specified on its official website.

Every company constituting a provident fund or provident fund trust shall submit the requisite financial information duly approved by the chief executive in case of a company or by head of trustees in case of a trust, to the relevant dealing officers of the SECP within the stipulated period. – APP