EPFO Central Board of Trustees to meet on October 10 and 11

The Central Board of Trustees of the Central Trustees (EPFO) is scheduled to meet on October 10 and 11. The meeting, which comes after a gap exceeding seven months, will be held in Bangaluru.

The sources indicated that the official agenda has not yet been circulated, but the meeting is expected to face problems on the implementation of the EPFO ​​3.0 and the minimum pension.

The retirement fund manager works on a comprehensive upgrade of his systems with the latest initiative, EPFO ​​3.0, which will provide faster and improved services in addition to an updated portal for members to enable them to handle easily. The specializations including Infosys, WIPRO and TCS are stored, to manage the platform. While the project was expected to be completed earlier this year, it took longer than expected due to technical tests. EPFO is expected to provide a project update at the next meeting.

Meanwhile, the issue of the height of the pension is likely to be submitted by the Supreme Court ruling on November 22, and it is also possible to provide an update to the status on it at the CBT meeting. The government is also looking for a possible review of the current monthly pension of 1000 rupees under employee savings plan, 1995, which can be discussed at the meeting.

Moreover, an update on the incentive -related incentive system under EPFO ​​to CBT may also be presented at the meeting.

CBT is the APEX decision -making body and headed by the Minister of Labor and Employment of the Union Mansukh Mandavia with union representatives, employers ’associations as well as states and the Ministry of Labor.

CBT last time in February this year to agree to the interest rate on the contributions of the Provident Fund. EPFO plans to hold a CBT meeting for some time now, but it is expected to do it as soon as there is greater progress in the implementation of EPFO ​​3.0.