Santosh Kumar Gangwar chairs the 223rd meeting of the Central Board of Trustees, EPFO held by the newly reconstituted CBT

newdelhi:4/12/18:The 223^rd meeting of the Central Board of Trustees (CBT), EPFO was held by the newly reconstituted CBT under the chairmanship of Shri Santosh Kumar Gangwar, Minister of State (I/C) for Labour & Employment here, today.

The Central Government reconstituted the CBT, EPFO under section 5A of Employees’ Provident Fund & Miscellaneous Provision Act, 1952 vide notification published in the Official Gazette on 09.11.2018 as S.O.No. 5668 (E).

The key decisions of the Central Board, EPFO are:-

1. The Board approved the constitution of the following committees and authorized Chairman CBT, EPFO to nominate members to the Committees:-

• Finance, Investment and Audit Committee
• Pension & EDLI Implementation Committee
• Exempted Establishments Committee

2. The Board ratified the proposal of appointment of M/s CRISIL Limited as Consultant to assist the EPFO in selection and review of Portfolio Managers.

3. The Board mandated Finance Investment & Audit Committee (FIAC), a Sub Committee of the Board to select new Portfolio Managers for managing the corpus of EPFO.

4. The Board noted that EPFO has started investments in Tri- Party Repo System in place of CBLO.

5. The Board extended the tenure of current portfolio managers upto 31^st March 2019 or till appointment of new Portfolio Managers, whichever is earlier.

6. The Board extended the tenure of M/s CRISIL Ltd as consultant upto 31^st March 2019 or till appointment of new Portfolio Managers whichever is earlier.

7. The Central Board took the note of the appointments made in the cadres of Addl. CPFC (HQ), Addl CPFC, RPFC-I and RPFC-II during the period from 15^th May, 2017 to 15^th November, 2018.

8. The Central Board of Trustees, EPFO adopted the revised guidelines issued by the DoP&T in consultation with UPSC to shift the crucial date of eligibility to 1^st January of the vacancy year and relevant years upto which APARs are to be considered for conducting Departmental Promotion Committee Meetings in relation to all cadres in EPFO.

9. The Board also took note of additional responsibilities assigned to District Offices that includes coverage and compliance, assessment of dues and damages, receipt and registration of claims, handling of grievances and recovery of assessed amounts in respect of establishments falling under the jurisdiction of the District Office.