The newly-reconstituted central board of trustees (CBT) of the Employees Provident Fund Organisation have approved the re-constitution of three key committees.
A decision to this effect was taken at the 223rd meeting of the CBT, chaired by labour minister Santosh Kumar Gangwar on Tuesday.
Gangwar nominated members to the re-constituted committees that included the Finance, Investment and Audit Committee, the Pension & EDLI Implementation Committee and the Exempted Establishments Committee, labour ministry said in a statement.
The central government had reconstituted the CBT, EPFO under section 5A of Employees’ Provident Fund & Miscellaneous Provision Act, 1952 through a notification last month after the five-year tenure of the earlier board came to an end.
As per the notification, no member can continue on the board for more than two terms of five years each. This would mean all the old hands at EPFO would now make way for younger representatives of employees and employers.
Source: Economic Times