EPFO Executive Committee Paves Way for Reform with Crucial Deliberations

The EPFO Executive Committee, chaired by Labour Secretary Sumita Dawra, addressed key issues including annual accounts backlog and a new compassionate appointment policy in its 109th meeting. The committee aims to advance the reform agenda, coinciding with EPFO's 72nd Foundation Day celebrations in November 2024.

In a momentous gathering, Labour Secretary and Chairperson of the Executive Committee of the Employees' Provident Fund Organization (EPFO), Sumita Dawra, led the 109th meeting of the executive committee in the national capital. This was the first meeting since the committee's reconstitution in September 2024.

The executive committee operates under the statutory framework of the EPF Act, 1952, to assist the Central Board in executing its functions. According to the Ministry of Labour and Employment, several important issues were on the committee's agenda for consideration, spanning deliberations, recommendations, and approvals.

Crucial among the matters discussed were the audited annual accounts of EPFO for fiscal years 2021-22 and 2022-23, which were examined for recommendation to the Board. The speedy clearance of these accounts was prioritized, and the committee directed that the accounts for 2023-24 be drafted and reviewed timely. In a significant step, the committee also deliberated on the draft New Compassionate Appointment Policy, 2024, designed to aid dependents of EPFO employees who sadly passed away before retirement, including many during the COVID-19 crisis.

The reconstituted committee resolved to use EPFO's 72nd Foundation Day on November 15, 2024, as a platform to further the reform agenda. To maintain momentum, they committed to monthly meetings to evaluate ongoing initiatives like the modernization project and other significant reforms.

(With inputs from agencies.)