FUNCTIONS - Central Board of Trustees
Main functions of the Board are
- Administration of the funds created and vested with the Board and performing other works incidental thereto.
- Delegation of Administrative & Financial powers as it may deem necessary for efficient administration of the Schemes.
- Appointment of officers and staff.
- Maintenance of accounts of Income & Expenditure in prescribed form and manner.
- Submission of Audited Accounts (with comments of CAG) and Annual Report on performance of the Organisation to the Government.
Sub-Committees of the Central Board of Trustees
Finance & Investment Committees
- Oversee the investment being done by the Fund Managers of EPFO.
- Watch timely investment of trust money with a view to realise the optimum returns.
- Issue such directions, as may be considered necessary, to the portfolio managers in regard to investment/re-investment of redemption proceeds, interest etc. within the investment pattern stipulated by Government from time to time.
- Recommend suggestions and changes in investment guidelines to the CBT.
- Recommend rate of interest to be credited to the accounts of PF members, to the Central Board of Trustees (EPF).
Committee on Exempted Establishments
- Oversee the working of the exempted establishments.
- Make suggestions to improve working of the exempted establishments for consideration of the Board.
- Consider and suggest additional guidelines for grant of exemption/relaxation.
Pension Implementation Committee
- To review the functioning of the Employees' Pension Scheme, 1995 including computerization in the Organization and disbursement of pension.
- To consider the suggestions/proposals for amendment/improvement in the Scheme.
Committee on Implementation of IT Reforms
- To suggest, evaluate and recommend for adoption appropriate information technology, communications technology, business process automation technology, office automation technology and other technology related options and models in line with the business needs and objectives of the Organization.
- To technically evaluate recommendations made by the consultants of the "Reinventing Employees' Provident Fund, India" Project and others in terms of the sizing of the requirements proposed, adequacy of the specifications of hardware, software and net work solution.
- To technically evaluate and make recommendations of the hardware, software and network performance measurement tools/ analysis and benchmarks.
- Technical approval of Tender Documents related to acquisition/implementation of technology solutions.
- To advise and give recommendations on other technical issues of relevance to the Organization.
- To carry out techno-commercial evaluations of technology options.