The Employees’ Trust Fund Board currently operates under the purview of the Ministry of Finance with the objective of promoting employee ownership, employee welfare and economic democracy through participation in financing and investment. The Operational areas of ETFB can be broadly divided into Collection & Employer Relations, Member Services and Investments. The Contribution Collections and Employer Relations Division involves the timely collection of contributions from employers, collection of surcharges, finding defaulters/ non contributors, and taking legal action against defaulters. The Investment Division is set up to manage the Investment Portfolio of the Board. The prime objective of this unit is to earn optimum returns while maintaining safety of investments and liquidity. The main functions of the Member Services Division include updating and maintaining Member Accounts, issuing Annual Member Statements (AMS) to members, speedy processing of General Benefits (Normal & Death Claims) and maintaining other Welfare Benefit Schemes for the active members. The ETF was founded in 1980 and is headquartered in Colombo.
Employees’ Trust Fund Board
Type
State Owned Enterprise
Industry
Banking and Finance
ROA
6.2
Governance
50
Profits/Losses
LKR 32,500,000
Governance Indicators
A systematic measure of how well this SOE is managed.
2019
Year of the most recent Annual Report available online
1
Have Annual Reports for the last five years been tabled in Parliament?
2
Does the Annual Report include the mandatory provisions set out in the PED guidelines?
1
Is the Audit Clean / Qualified / Disclaimer?
0
Is the information pertaining to the RTI officer available on the website?
0
Does the SOE respond to an RTI within the timeframe specified in the Act?
1
Does the SOE have a website?
1
Does the SOE website contain sufficient organtisational details?
1
Does the SOE website contain tender and procurement details?
Annual Report
Auditing Standards
Rights to Information
Accessibility of Information
Interpretation of the indicators
Good
2
Average
1
Bad
0
Financials
Available Financial data for the last few years.
| Year | Turnover (LKR) | Total Assets | Profit/Loss | Total Debt | Total Liabilities | Total Equity | Operational Profits | ROA |
|---|---|---|---|---|---|---|---|---|
|
2020
|
34,729,000
|
Data Not Available | 32,500,000 | Data Not Available | Data Not Available | Data Not Available | Data Not Available |
Data Not Available
|
|
2019
|
31,583,332
|
312,511,143
|
15,835,882 | Data Not Available |
3,273,335
|
341,423,177
|
19,990,967
|
4.8
|
|
2018
|
28,330,988
|
312,511,143
|
14,848,086 | Data Not Available |
3,621,116
|
308,890,027
|
18,304,295
|
5
|
|
2017
|
27,303,884
|
280,861,175
|
17,152,734 | Data Not Available |
1,625,632
|
279,235,543
|
19,931,948
|
6.5
|
|
2016
|
18,980,056
|
250,480,519
|
14,349,014 | Data Not Available |
1,533,106
|
248,947,413
|
17,082,125
|
6.1
|
|
2015
|
19,833,312
|
222,540,319
|
18,033,974 | Data Not Available |
599,187
|
221,941,132
|
18,109,084
|
8.6
|