Employees' Trust Fund (ETF)

The Employees' Trust Fund (ETF), a social security programme, was established on 1 March 1981 under the Act No.46 of 1980 by the Parliament of the Democratic Socialist Republic of Sri Lanka to promote (i).employee ownership, employee welfare and economic democracy through participation in financing and investment (ii).employee participation in management through the acquisition of equity interest in enterprises and to provide for non-contributory benefits to employees upon retirement. All workers i.e. Permanent, Temporary, Casual, Contract, Piece-rate wages, Learners and apprentices who are employed in private and public sector are eligible to be benefited by it.

Where an employer first becomes liable under the provisions of this Act to contribute to the Fund in respect of any employee employed by such employer, such employee shall then become and continue to be a member of the Fund so long as there is any sum to the credit of his individual account in the Fund. Persons who are self-employed and migrant workers are also eligible to ETF membership on a voluntary basis. However the Domestic servants, Employees in religious, social or charitable institutions employing less than 10 employees, Industrial undertakings training juvenile offenders, orphans, or persons who are destitute, deaf or blind and Businesses where only family members are employed are considered as the exempts of the Act. A membership statement of account will be issued to members before 30 September every year which contains details of annual interest, account balance etc.

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