The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) is scheduled to hold its 240th meeting on November 19 in Gir, Gujarat. This crucial gathering, communicated by the Ministry of Labour, marks the first CBT meeting of the current fiscal year.
While the full agenda remains unofficial, sources indicate that significant reforms to the Employees’ Provident Fund (EPF) Scheme will be discussed. Among the most anticipated topics are a review of the current ₹1,000 minimum pension under the Employees' Pension Scheme (EPS) and a re-evaluation of the ₹25,000 monthly wage threshold for EPFO coverage.
Concerns Over Minimum Pension and Wage Ceiling
CBT members have expressed an urgent need to address the long-standing ₹1,000 guaranteed pension under the EPS, advocating for an increase. They also highlighted that the ₹25,000 wage threshold for EPFO coverage was implemented without prior consultation with the Board, making its review a priority for the upcoming session.
The CBT, which serves as the EPFO’s highest decision-making body, is chaired by Union Labour and Employment Minister Mansukh Mandaviya. Its diverse membership includes representatives from state governments, trade unions, and employers, ensuring a broad perspective on policy decisions.
Broader Reforms and Digital Initiatives
Beyond the pension and wage threshold, the meeting is expected to cover other ongoing reforms, including updates to the revamped EPFO website and progress under the CITES 2.01 initiative. These digital advancements have been instrumental in modernising the retirement fund manager's infrastructure and centralising its extensive databases.
The Board last met in March, when it approved an interest rate of 8.25% for the fiscal year 2025-26. The upcoming November meeting is poised to tackle critical issues impacting millions of provident fund subscribers, with potential changes to the EPFO minimum pension and coverage criteria.