New e-passbook facility for EPFO subscribers adds graphic features

With the launch of e-passbook facility for the EPFO subscribers earlier this week, members now will be able to view more details of their accounts in graphical representations.

Union labour and employment minister Bhupender Yadav launched the facility on Tuesday.

According to official data, EPFO added 14.86 lakh subscribers in January 2023. Yadav, also the Chairman of Central Board of Trustees (CBT) of EPFO, inaugurated creche facilities in 63 regional offices of EPFO where there are 100 or more employees.

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The minister also laid the foundation stone of the building of regional office at Prayagraj in Uttar Pradesh.

Revised estimates

During the meeting of 233rd CBT earlier this week, the minister approved the revised estimates for 2022-23 and budget estimates for the year 2023-24 for schemes administered by EPFO. The board also approved the five-year prospective plan for enhancement of physical infrastructure of EPFO. This includes purchase of land, building construction and special repairs involving a cost of Rs 2,200 crore.

The board also approved the proposal for conversion of status of EPFO from Associate Member to Affiliate Member in International Social Security Association (ISSA) that was in line with the EPFO@2047 vision document. This would enable the EPFO to play a bigger role in the international social security platform of ISSA.

As per the statement, the board gave its nod for the umbrella MoU signed between the EPFO and NTA (National Testing Agency) for conduct of various examinations.

Further, the board cleared the constitution of the committee for recommending amendments in the Employees’ Provident Fund (Officers and Employees Conditions of Service) Regulations, 2008.

Proposals approved

According to the statement, the board also approved the proposal for extension of AMC of portfolio managers and a proposal for investing the proceeds of ETF investments in any of the permissible categories of investments subject to the limit prescribed for that category.

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“The board was also apprised of the actions taken towards compliance of the Supreme Court judgment regarding pension on higher wages and measures taken to facilitate filing of options etc,” it said.

(With Agency inputs)