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  • Published
    15th Jan, 2024

Government Reconstitutes EPFO Board with Altered Representation

The government has recently done a substantial restructuring of the Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO), with notable alterations in the representation of trade unions.

  • Term of Board: Five years
  • The last reconstitution: November 2018,
  • The revised board includes members from prominent trade unions such as the Bharatiya Mazdoor Sangh (BMS), Hind Mazdoor Sabha, Centre of Indian Trade Unions (CITU), and others.
  • Notable absence : All India Trade Union Congress (AITUC), All India United Trade Union Centre (AIUTUC), and Indian National Trade Union Congress (INTUC).
  • Concern: About the composition of the board and the exclusion of specific trade unions.

About EPFO:

  • The Employees' Provident Fund Organisation (EPFO) is a tripartite, statutory body formed by the central government under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.
  • Comprising representatives from employees, employers, and the government, the EPFO Board's tenure is five years.
  • The Union Minister of Labour and Employment serves as the Chairman, leading a board that includes a Vice Chairman, Central Provident Fund Commissioner, central government representatives, state government representatives, employers' representatives, and employees' representatives.

Role of the Board: Administering funds, delegating administrative and financial powers, appointing officers and staff, maintaining accounts, and determining the annual interest rate for over 29 crore EPFO subscribers, approximately 6 crore of whom are active contributors.

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