EPFO CBT Meeting: These proposals were accepted by the Board, key decisions were taken by Central Board, EPF in 229 th Meeting Of Central Board Of Trustees

CBT MEETING ON 20 th NOVEMBER 2021

229 th Meeting Of Central Board Of Trustees Of EPFO was held on 20 th November. The new Labour Minister Sri. Bhupendra Yadav Presided. The Minister Of State for Labour , who is the Vice Chairman and Secretary Of Labour, the Co Vice Chair were also Present. CPFC (DG Of ESIC is on Additional charge)who is the Secretary of the CBT and other  officials were also present.

From the Employees side All Members , CITU, BMS, AITUC, HMS and AIUTUC were present. CITU was represented by A. K. Padmanabhan.

After the Minister Of State spoke on “achievements“ of the Govt, Labour Secretary made a brief presentation on the EPF related aspects of New Social Security Code. CPFC detailed on the performance of EPFO during the period after the last meeting.

As the Agendas were being taken, Employee representatives wanted to bring certain issues to the The Notice Of The Chair. Chair allowed it. Almost all issues related to the Subscribers, EPS Pensioners, Employees and Pensioners Of EPFO,

Bottle necks in the e-governance systems etc. were explained by All members representing Employees and Employers.

This decision of the Chair was helpful for Employee representatives to focus on important issues and it was for the first time that for about Two hours,  members could speak without any hindrance from the Chair.

From CITU, we could take up Increase Of Minimum Pension, the Supreme Court Case On Higher Pension, the difficulties mainly of Beedi and such sections in correcting their KYC details, the attitude of Administration towards the issues takenup by CBT members , the issues of employees and Pensioners of EPFO etc.It was stressed that EPFO being under Labour Ministry it should be a Model for others but the Industrial relations, approach to the Recognised Federation and issues being raised by them were not being dealt properly.

Regarding increase in Minimum Pension it was pointed out to the new Chairman that his Predecessors had in the CBT meetings agreed to take a delegation of CBT Members available in Dehi to the Finance Minister and this was not done.

It was notable that even an Employer representative spoke about necessity of increasing Minimum Pension. He referred to the suffering of the Pensioners, who are former employees and this is having a negative impact on the existing employees.

After listening to all these , the Minister proposed the formation of four Subcommittees, viz..On EPFO Establishment, Social Security Schemes Under the new Code, Pension and e administration issues. Two of these will be chaired by the Minister Of State and others by Secretary Of Labour. Subcommittees will have Members from all sides. The Committees will meet and prepare reports which will be presented to the next CBT and discussed thoroughly. He promised that the CBT will meet regularly once in  Three months and if necessary meetings will be for Two days .The meetings  will have a ZERO HOUR so that issues not in the Agenda could be raised.

These proposals were accepted by the Board.

Then the discussion on the Agenda was taken up. Mainly the Agendas were of Administration related matters. Other major issue was on the Pattern Of Investment. CBT had earlier not accepted investment in all the categories notified by the Government. At present the interest rate on Many investments are meagre and EPFO is finding it difficult to invest as options are very limited”.FIAC , the subcommittee on investment , had proposed that investment in some more categories can also be utilised for investment and FIAC will decide on Case to case basis.