Mr. Sumit Dawra (1991-batch IAS officer), the incumbent Secretary in the Department of Labour & Employment, recently chaired the 109th meeting of the Executive Committee of the EPFO Central Board of Trustees (CBT), with Mr. Ramesh Krishnamurthi, Central PF Commissioner, in attendance. Key discussions included EPFO reforms, annual accounts, the Compassionate Appointment Policy, and the draft 71st Annual Report.
The Executive Committee, a statutory body under the EPF Act, assists the Central Board in its functions. The Committee reviewed the audited annual accounts for 2021-22 and 2022-23, clearing the backlog and directing timely preparation of the 2023-24 accounts. Two Chartered Accountant firms were approved to automate and streamline the financial reporting process.
The Committee also reviewed the draft Annual Report for 2023-24, highlighting positive growth: a 6.6% increase in contributing establishments (7.66 lakh), a 7.6% rise in contributing members (7.37 crore), and a 55.4% increase in arrears recovered (Rs 5,268 crore). Claims settled also rose by 7.8%. The Central Board recommended the adoption of the report.
Additionally, the Committee considered the draft Compassionate Appointment Policy, 2024, aimed at supporting the families of deceased EPFO employees, particularly those who passed away during the COVID-19 pandemic.
The meeting also addressed several IT and governance reforms, including simplifying claim settlement processes and relaxing criteria for auto-settlement, improving efficiency and member experience.
