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226th Meeting of Central Board of Trustees Held 6.3 Lakh Pensioners to be Benefited from Restoration of Normal Pension After 15 Years From Date of Commutation The 226th, Meeting of the Central Board of Trustees (CBT), EPF was held today under the chairmanship of Shri Santosh Kumar Gangwar, Minister of State for Labour Employment (Independent Charge) and Vice Chairmanship of Shri Heeralal Samariya, Secretary, Ministry of Labour Employment. Central Provident Fund Commissioner Shri Sunil Bart
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FAQ :
The Central Board recommended crediting an annual interest rate of 8.5% on EPF accumulations for the financial year 2019-20.
Approximately 6.3 lakh pensioners will benefit from the restoration of their normal pension after 15 years from the date of commutation.
Yes, the EPFO has entered into an agreement with the State Bank of India, resulting in an annual saving of around Rs. 15 crores due to the waiver of various service charges.
The minimum assurance benefit of Rs. 2.5/3 Lakh will now be payable to the family members of a deceased employee even if they worked in multiple establishments in the 12 months preceding their death.
The power to grant online exemption has been delegated to Additional Central Provident Fund Commissioners, which is expected to benefit lakhs of employees in over 25,000 establishments.
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