Employees' Provident Fund Organisation
Ministry of Labour & Employment
Government of India

Wednesday, December 09, 2009

EPFO Board approves Annual Report and Audited Accounts


The 188th meeting of the Central Board of Trustees, Employees’ Provident Fund (EPF) approved two statutory items placed for consideration on 05th instant. Accordingly, the Annual Report of the organisation for the year 2008-2009 and Annual Audited Accounts for the year 2008-2009 were approved by the Board.

The Board also approved the Revised Estimates for the year 2009-2010 and Budget Estimates for the year 2010-2011.

Among the other agenda, the Board also approved an expenditure of Rs. 96 Crore for the successful implementation of the first phase of the Computerization plan. The Board was informed that 27 EPFO Offices would be computerized by March 2010 as per the first phase. These offices are expected to provide better services and speedy settlements of claims after computerization.

The Board also approved two items relating to the relaxation of investment guidelines in public sector bonds and government guaranteed bonds so as to augment the yield.

The Board also extended the tenure of M/S CRISIL as consultant for professionally assisting EPFO for performance evaluation of Portfolio Managers.

The above decisions were taken under the chairmanship of Shri Mallikarjun Kharge, the Union Minister of Labour and Employment and Chairman, CBT (EPF). The Minister of State and Vice Chairman of the Board, Shri Harish Rawat was also present in the Meeting.

The Board also placed on record the services rendered by the outgoing Central Provident Fund Commissioner, Shri K. Chandramouli and also welcomed Shri Prabhat C. Chaturvedi, the new Secretary, Ministry of Labour & Employment.