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Functioning of Employees™ Provident Fund

As on 31.03.2012, the total members of Employees™ Provident Fund are 8.55 crore and pensioners under Employees™ Pensions Scheme are 41.03 Lakh.

The present composition of Central Board of Trustees (CBT), Employees™ Provident Fund (EPF) is Annexed. The composition of the CBT, EPF is as per Section 5A of the Employees™ Provident Fund & Miscellaneous Provisions Act, 1952.

As per clause (e) of sub-section (1) of Section 5A of the Employees™ Provident Fund & Miscellaneous Provisions  Act, 1952, ten persons representing employees in the establishments to which the Scheme applies, appointed by the Central Government after consultation with such organisations of employees as may be recognized by the Central Government in this behalf.

The Employees and Employers contribute 12% and 3.67% of wages respectively, to the Provident Fund. In addition, the employers and Central Government contribute 8.33% and 1.16% of wages respectively, to the Pension Fund.

As per audited Balance Sheet of EPFO for the year 2011-12, total balance amount as on 31.03.2012 under the Employees™ Pension Scheme(EPS), 1995 is Rs.162980.03 Crore.

As per latest figure (unreconciled), the balance in EPS, 95 as on 31.03.2013 is Rs.183,405.36 Crore, (on face value of securities), details of which are as follows:

S.No.

Category

Amount (Rs. In Crore)

1.

Central Government Securities

  43,475.28

2.

State Government Securities

  21,690.92

3.

Government Guaranteed Securities

    4,640.30

4.

Special Deposit Scheme

    1,400.52

5.

Public Account

  63,593.44

6.

Public Sector

  39,255.64

7.

Private Sector

    9,349.26

Total

183,405.36

The interest accrued thereon during the last three years and current year is as under:-

Year           Interest amount (Rs. In Crore)

2009-10                            9,532.34

2010-11                          10,888.49

2011-12                          13,315.80

2012-13                          14,416.65 (unaudited)

This information was given by Minister of State for Labour & Employment Shri  Kodikunnil Suresh in the Lok  Sabha today in reply to a written question.

List of Members of the CBT (EPF) as on date

(a) Appointed under clause (a) of Sub-section (1) of Section 5A.

1.

CHAIRMAN : Union Minister for Labour & Employment

2.

VICE-CHAIRMAN: Minister of State for Labour & Employment

(b) Representatives of the Central Government under clause (b) of sub- section (1) of Section 5-A (Member)

3.

Secretary, Ministry of Labour & Employment, Government of India

4.

Additional Secretary, Ministry of Labour & Employment, Government of India

5.

Joint Secretary, Social Security, Ministry of Labour & Employment, Government of India

6.

Representative from the Ministry of Finance, Government of India

7.  

Financial Advisor, Ministry of Labour & Employment, Government of India

(c) Representatives of State Governments under clause (c) of sub-section (1) of section 5A State Government Representatives (Member).

8.

Secretary to the Government of Andhra Pradesh, Labour & Employment Department.

9.

Secretary to the Government of Assam, Labour & Employment Department.

10.

Secretary to the Government of Bihar, D/o Labour & Employment.

11.

Secretary to the Government of Gujarat, Labour & Employment Department.

12.

Secretary to the Government of Haryana, Labour & Employment Department.

13.

Secretary to the Government of Karnataka, Labour Department.

14.

Principal Secretary to the Government of Madhya Pradesh, Labour Department.

15.

Secretary to the Government of Maharashtra Industry, Labour & Energy Department.

16.

Secretary to the Government of Orissa, Labour & Employment Department.

17.

Secretary to the Government of Punjab, Labour Department.

18.

Secretary to the Government of Rajasthan, Labour & Employment Department.

19.

Secretary to the Government of Tamil Nadu, Labour & Employment Department.

20.

Secretary to the Government of Uttar Pradesh, Labour Department.

21.

Secretary to the Government of West Bengal, Labour Department.

22.

Secretary to the Government of NCT of Delhi, Labour Department, Delhi.

(d) Representatives of Employers under clause (d) of sub-section (1) of Section 5A (Member)
23.

ShriJ.P.Chaudhary, All India Organization of Employers, (Council of Indian Employers)

24.

Shri Ram S. Tarneja, Employer™s Federation of India, (Council of Indian Employers)

25.

ShriSharadPatil, Employees™ Federation of India, (Council of Indian Employers)

26.

Dr.U.D.Choubey, Director General, Scope (Council of Indian Employers)

27.

ShriSantoshSaraf, ASSOCHAM

28.

ShriSushantaSen, Confederation of Indian Industry

29.

Shri B.P. Pant, FICCI

30.

ShriBabulalTodi, AIMO

31.

ShriBadish Jindal, (FASII).

32.

Shri Ravi Wig, PHD Chamber of Commerce and Industry

(e) Representatives of employees under clause (e) of sub-section (1) of Section 5A (Member)

33.

ShriGirishAwasthi, BMS

34.

ShriBaijNathRai, BMS

35.

Shri M. JagadishwaraRao, BMS

36.

Shri G. Sanjeeva Reddy, INTUC

37.

Shri Ashok Singh, INTUC

38.

Shri D.L. Sachdev, AITUC

39.

Shri A.D. Nagpal, HMS

40.

Shri A.K. Padmanabhan, CITU

41.

Shri Shankar Saha, UTUC(LS)

42.

Shri Ramen Pandey, INTUC

Appointed under clause (aa) of sub-section (1) of section 5A
43.

Central Provident Fund Commissioner   Ex officio Member

*****

Tags: Board of directorsCabinet of IndiaCBTCentral GovernmentEmployee Provident FundEmployees' Provident Fund Organisation of IndiaEPFGovernment of India

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