Citizen Investment Trust (CIT) and Employees Provident Fund (EPF)

Details

The Citizen Investment Trust (CIT) and the Employees Provident Fund (EPF) are two major statutory financial institutions in Nepal focused on retirement savings, social security, and capital market mobilization.

Citizen Investment Trust (CIT)

Established: 1991 (2047 BS) under the Citizen Investment Trust Act, 2047.
Function: Mobilizes public savings through voluntary retirement schemes, unit schemes, and mutual funds.
Market Role: Acts as a major institutional investor and market maker in the Nepalese capital market.

Employees Provident Fund (EPF)

Established: 1962 (2019 BS) under the EPF Act, though its origins date back to the Sainik Drabya Kosh established in 1934.
Mandate: Manages the provident fund and pension schemes of government employees, army, police, and private/corporate sector workers.
Contribution: A total contribution of $20%$ of the employee's basic salary ($10%$ from the employee and $10%$ matched by the employer).

Category

Financial Institution

Fiscal Year

2082

Key Figure/Rate

EPF: $10\% + 10\%$ contribution, Est. 1962 (Origins 1934)