EPFO Announces New Rule For Withdrawal Of Employees’ Pension Scheme Accumulation

1. As a result of the recommendations, a redemption policy for its investments in Exchange-traded fund (ETF) units has been approved. Furthermore, the board also approved the redemption of ETF units purchased during the period calendar year 2018 for booking capital gains to be included in the earnings for calculation of the interest rate for 2022-23.

2. The CBT also cleared the 69th annual report on the functioning of the EPFO for 2021-22 which will be tabled in Parliament. Not only this, the Audited Annual Account, in respect of the EPF Scheme 1952, EPS Scheme 1995 and Employees’ Deposit Linked Insurance (EDLI) Scheme 1976 for the year 2020-21 along with the Audit Report for placed in Parliament were also approved.

3. The board also said yes to the Information Security Policy of the EPFO and a generic policy for the purchase of IT hardware for the purpose of storage and the purchase of server database and database licenses.

4. The CBT approved 11 proposals for surrender or cancellation of exemption from the EPF Scheme.

5. A document has also been prepared at the Chintan Shivir named EPFO Vision @2047, which is a culmination of intense deliberations. The document has key strategies and initiatives which would help the EPFO match global benchmarks in providing world-class social security and social protection to all segments of society.