The 228th meeting of Central Board of Trustees of EPF was held in Srinagar,
Jammu & Kashmir on 4th March, 2021 under the Chairmanship of Central Labour
Minister. On behalf of CITU, R.Karumalaiyan, Secretary, CITU, has attended as
substitute for Com. A.K. Padmanabhan, our nominee in the CBT. Though one
virtual meeting was held during the lockdown, this is the first physical meeting
after Corona.
The informations and decisions are as follows;
Territory of Jammu and Kashmir and Ladakh w.e.f. 31st October 2019, after the abrogation of
Article 370, the EPFO has extended its P.F, Pension and Insurance benefits to all employees of
existing establishments covered under the erstwhile JK PF Act as well as the employees of
newly covered establishments. EPFO has set up the Regional Offices at Srinagar, Jammu and a
facilitation center at Leh. The coverage of social security under EPF Act has increased both in
terms of establishments and subscribers.
this meeting in Srinagar, I brought to his notice the letter written by Ten Central Trade Unions
requesting him not to hold the meeting there in the present situation.
discussions, we raised about the fate of the decision of CBT that was taken in the Hyderabad
meeting in 2019, to raise the minimum pension under the EPF- 95 Pension Scheme. The
proposal, then, was to hike the minimum pension from Rs.1000 to Rs.2000. As all CBT members
from the Central Trade Unions (CTU) including employers’ representatives demanded an
increase over and above Rs. 2000, and then it was decided to meet the Finance Minister and
get her concurrence.
Nothing has happened so far. So, here in Srinagar meeting, All CTUs’
representatives demanded reply from the Chairman and urged to hike the same in this
meeting, but he kept at most silence till end on this issues.
opposition by the central trade unions and most of the workers’ representatives in CBT, a part
of the EPF funds has been diverted for investment in private securities and other speculative
instruments. Accordingly, EPFO has invested part of the EPF funds in private securities like
Reliance Capital, Dewan Housing Finance Corporation (DHFC) and Infrastructure Leasing and
Financial Services Limited (IL&FS) etc. Over a period of time all these were downgraded and
defaulted which has resulted in losses to EPF. Since then, we have been raising our serious
concern on this dangerous move. For instance, EPFO had invested a total amount of Rs. 574.74
Cr which has, now, been categorized as Red Entity. All the investment details and the default as
well as the capital gains were placed in the CBT only for information and not for deliberations.
When we raised all these issues, the Chair disallowed us as it was the prerogative of Finance
Investment and Audit Committee (FIAC) and then we stood up firmly to register our point that
all investment details and the associated gains and loss, if any has to be placed before the CBT
which is the sole legally constituted body to take a call on all matters.
the financial year 2020-21. This is nothing but retaining the last year rate. But we urged them to
increase the rate of interest taking into account the available income over and above the breakeven level.
Security Code, 2020, the Central Government is required to frame the Pension Scheme.
Accordingly they made some proposal on 1) existing members of EPS-95; 2) for new members
who join below the statutory wage ceiling- Rs.15,000; 3) for those join above the statutory
wage ceiling- Rs.15,000; the provision for grants of pension in-lieu of Assurance Benefit under
EDLI. Central Government tried to push through all these in this meeting itself. We objected to
such a move and requested to defer the same to a meeting that would be convened exclusively
for this purpose. Because the important aspects of synchronizing not only Pension scheme but
the entire establishments and schemes with new Social Security Code, 2020 should not be
taken up in haste as it needs detailed discussion with Central Trade Unions before bring this
agenda in the CBT. Then it was deferred.
Unions before the meeting and asked the chairman to include the EPF employees’ grievance
handling mechanism in the CBT agenda. As nothing was found in the agenda paper, we raised
their issues related work load, spouse transfer and not discussing the same with duly
recognized Federation. The transfer policy should be changed to accommodate the cases of
spouse transfer upon which we received much representation from employees.
chronically non-payment of Central government’s contribution to the Pension Fund and
demanded the Central Government to share the raising administrative expenditure also.
IN TELUGU
EPF యొక్క సెంట్రల్ బోర్డ్ ఆఫ్ ట్రస్టీల సమావేశం 4 వ తేదీన జమ్మూ & కాశ్మీర్ లోని శ్రీనగర్ లో జరిగింది.
మార్చి, 2021, కేంద్ర కార్మిక మంత్రి అధ్యక్షతన. సిఐటియు తరపున, సిఐటియు కార్యదర్శి ఆర్.కరుమలైయన్, సిబిటిలో మా నామినీ కామ్ ఎకె పద్మనాభన్ కు ప్రత్యామ్నాయంగా హాజరయ్యారు.
లాక్డౌన్ సమయంలో ఒక వర్చువల్ సమావేశం జరిగినప్పటికీ, కరోనా తరువాత ఇది మొదటి భౌతిక సమావేశం.
సమాచారం మరియు నిర్ణయాలు ఈ క్రింది విధంగా ఉన్నాయి;
ఇపిఎఫ్ఓ ప్రాంతీయ కార్యాలయాలను ఏర్పాటు చేసింది జమ్మూలోని శ్రీనగర్ వద్ద మరియు లే వద్ద ఒక ఫెసిలిటేషన్ సెంటర్ వద్ద.
స్థాపనలు మరియు చందాదారుల పరంగా ఇపిఎఫ్ చట్టం క్రింద సామాజిక భద్రత యొక్క కవరేజ్ పెరిగింది.
కనీస పెన్షన్ను రూ .1000 నుంచి రూ .2000 కు పెంచాలన్నది ఈ ప్రతిపాదన. యజమానుల ప్రతినిధులతో సహా సెంట్రల్ ట్రేడ్ యూనియన్స్ (సిటియు) నుండి సిబిటి సభ్యులందరూ రూ. 2000, ఆపై ఆర్థిక మంత్రిని కలవాలని మరియు ఆమె సమ్మతిని పొందాలని నిర్ణయించారు.
ఇంతవరకు ఏమీ జరగలేదు. కాబట్టి, ఇక్కడ శ్రీనగర్ సమావేశంలో, అన్ని సిటియుఎస్ ప్రతినిధులు ఛైర్మన్ నుండి సమాధానం కోరింది మరియు ఈ సమావేశంలో కూడా దీనిని పెంచాలని కోరారు, కాని ఈ సమస్యలపై చివరి వరకు అతను చాలా మౌనంగా ఉండిపోయాడు.
అన్ని పెట్టుబడి వివరాలు మరియు అనుబంధ లాభాలు మరియు నష్టాలు, ఏదైనా విషయాలపై పిలుపునిచ్చే ఏకైక చట్టబద్దమైన సంస్థ అయిన సిబిటి ముందు ఉంచవలసి ఉంటే.
This post is in English,Hindi and Telugu. Translated from English to Hindi and Telugu. Please…
This post is in English,Hindi and Telugu. Translated from English to Hindi and Telugu. Please…
This post is in English,Hindi and Telugu. Translated from English to Hindi and Telugu. Please…
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This post is from the pen of G. Srinivas Rao. "Major Trade Unions not bothered…
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