Labour Secretary and Chairperson of Executive Committee, Central Board, Employees’ Provident Fund Organization (EPFO), Sumita Dawra, presided over the 109th Meeting of the Executive Committee this week in the national capital, marking the first gathering since the committee’s reconstitution in September 2024.
The Executive Committee, a statutory committee under the EPF Act, 1952, has a mandate to assist the Central Board, EPF in fulfilling its duties. According to the Ministry of Labour and Employment, the meeting focused on several critical issues requiring deliberations, recommendations, and approvals.
In a major development, the Audited Annual Accounts of EPFO for the years 2021-22 and 2022-23 were reviewed by the Committee for potential recommendation to the Board, helping clear the backlog of financial reports. Notably, the Committee directed that the 2023-24 audited accounts be prepared and presented promptly to avoid future delays.
A significant decision involved considering the draft New Compassionate Appointment Policy, 2024, which aims to support the dependents and family members of EPFO employees who passed away before reaching retirement age, including many affected during the COVID-19 pandemic period.
Looking ahead, the Committee decided to use EPFO’s 72nd Foundation Day on November 15, 2024, as a pivotal opportunity to drive forward the organization’s reform agenda, rallying EPFO employees at all levels to support these initiatives.
In a determined push for efficiency, the Executive Committee resolved to meet monthly over the next few months to closely monitor and evaluate progress on key projects, including the ongoing modernization efforts and other vital initiatives currently underway.
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This marks a new era of reform and accountability for EPFO, with major changes on the horizon.