|Friday, June 24, 2011|
194th CBT MEETING 24.06.2011
The 194th meeting of the Central Board of Trustees, EPF, which was the eleventh regular meeting of the present Board, was convened here today.
2. The Board deliberated upon a proposal for further extension of the selection process of the new fund managers for a period of two months effective from 01.07.2011. The Board also stipulated that the EPFO would finalize the selection of fund managers before the expiry of the extended period. Till such time the State Bank of India would continue as fund manager of EPF corpus.
3. The Board also approved a proposal for appointment of custodian of securities of EPFO. This measure was taken to separate the custodial services from the Fund managers to bring further transparency in the management of EPFO corpus.
4. The Board also decided to refer the Report of the Working Group on comprehensive amendment to the Employees Provident Funds & Miscellaneous Provisions Act, 1952 to the Ministry of Labour & Employment for further examination.5. The above decisions were taken under the Chairmanship of Shri Mallikarjun Kharge, the Union Minister of Labour and Employment and Chairman, CBT (EPF). Secretary (Labour & Employment) and vice-Chairman of the CBT,EPF and Shri Samirendra Chatterjee, Central Provident Fund Commissioner also attended the meeting.