Landmark Decisions at 235th CBT Meeting: EPFO Historic Income Distribution

Landmark Decisions at 235th CBT Meeting: EPFO Historic Income Distribution. The Ministry of Labour & Employment’s 235th CBT meeting recommends a record-breaking Rs. 1,07,000 crores income distribution to EPF members, approves budget estimates, and enacts new service regulations.

Ministry of Labour & Employment

The 235th meeting of Central Board of Trustees (CBT), EPFO held under the Chairmanship of Shri Bhupender Yadav

Posted On: 10 FEB 2024 7:25PM by PIB Delhi

The 235th meeting of Central Board of Trustees (CBT), EPFO was held today on 10 Feb 2024, Delhi under the Chairmanship of Shri Bhupender Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change, Vice-Chairmanship of Shri RameswarTeli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Chairmanship of Ms Arti Ahuja, Secretary Labour & Employment and the Member Secretary Smt. Neelam Shami Rao, Central P F Commissioner.

The Board discussed and took the decisions, inter-alia of the following: –

Landmark Decisions at 235th CBT Meeting: EPFO Historic Income Distribution

1. The Board has recommended a distribution of historic income amount of Rs. 1,07,000 crores to EPF members’ accounts on a total principal amount of about Rs. 13 lakh crores, which was Rs. 91,151.66 crores and Rs. 11.02 lakh crores in the financial year 2022-23, respectively. The total income recommended for distribution is the highest on record.
2. The Board approved the Revised estimates for the year 2023-24 and budget estimates for the year 2024-25 for EPFO and schemes administered by EPFO.
3. The Board approved new Service Regulation of EPFO staff & officers, repealing Employees’ Provident Fund Staff (Classification, Control & Appeal) Rules, 1971 and Employees’ Provident Fund (Officers and Employees’ Conditions of Services) Regulations, 2008.
4. The Board unanimously authorized the Chairman, CBT to re-constitute the Executive Committee and other Sub-Committees of Central Board of Trustees (CBT), Employees’ Provident Fund

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Source: PIB