The Employees’ Provident Fund Organisation (EPFO) will convene its 240th meeting of the Central Board of Trustees (CBT) on November 19 in New Delhi. The meeting, initially scheduled to take place in Gir, Gujarat, has been shifted to the organisation’s headquarters in the national capital.
According to a report by Moneycontrol, a communication dated November 4, sent to CBT members, confirms the revised venue and meeting schedule. The meeting will begin at 10:15 am at EPFO’s head office in East Kidwai Nagar, New Delhi.
The communication was issued by Subrata Bhaumik, Regional Provident Fund Commissioner-II (Conference).
The agenda papers for the meeting are expected to be circulated separately, Moneycontrol reported.
The November 19 meeting will bring together representatives of the central and state governments, employers and employees who constitute the CBT, EPFO’s apex decision-making body. The board is responsible for overseeing the functioning of the retirement fund organisation and taking decisions on matters concerning its social security schemes.
What is the Central Board of Trustees and what does it oversee?
The CBT is a tripartite body comprising representatives of the government, employers and employees. It is constituted under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, and functions as the statutory board responsible for administering EPFO.
Its responsibilities cover three major social security schemes administered by EPFO:
- Employees’ Provident Fund (EPF) Scheme, 1952: The scheme provides retirement savings through contributions from employees and employers. The accumulated corpus, along with interest, is available to members subject to withdrawal rules.
- Employees’ Pension Scheme (EPS), 1995: The scheme provides pension benefits to eligible members and their families, including retirement, disability and survivor pensions.
- Employees’ Deposit Linked Insurance (EDLI) Scheme, 1976: The scheme provides insurance benefits to eligible EPF members in the event of their death while in service.
The CBT also takes up matters concerning EPFO’s administration, investments, financial performance and the implementation of its social security schemes.
The agenda for the November 19 meeting is expected to provide clarity on the specific matters scheduled for discussion.