EPF's Central Board of Trustees meet
Source: The Sangai Express
Imphal, March 14 2020:
The meeting of the Central Board of Trustees, EPF was held on March 5 under the chairmanship of Santosh Kumar Gangwar, Minister of State for Labour & Employment, GoI and vice chairmanship of Heeralal Samariya, Secretary (L&E), GoI.
Central Provident Fund Commissioner Sunil Barthwal conducted the meeting as Member Secretary CBT, EPF at Shram Shakti Bhawan, New Delhi.
The Central Board recommended crediting of 8.5% p.a rate of interest on the EPF accumulations in the EPF members' accounts for 2019-20 while it ratified and appreciated restoration of normal pension after 15 years from the date of commutation, benefiting about 6.3 lakh pensioners.
The Board appreciated the timely selection of 240 candidates to the post of Assistants (Assistant Section Officer) in EPFO and also maintained that the selection of 2189 Social Security Assistants is underway.
It further lauded that EPFO has entered into an agreement with the SBI after negotiating waiver of various service charges, which resulted in saving of around Rs 15 crore annually to EPFO.
The Board accorded approval to the proposal for empanelment of Jammu and Kashmir Bank as one of the collecting banks to collect EPF dues in J&K.During the meeting, the board recommended to extend the provision of minimum assurance benefit of Rs 2.5/3 lakh, payable to family members of deceased employee, who dies in service.
The Board also approved to delegate the power to Additional Central Provident Fund Commissioners to grant online exemption.