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| Rs.4.40 cr budget approved for EPF | | Slathia for strict implementation of Board decisions | | EARLY TIMES REPORT
JAMMU, MARCH 24- An estimated budget of Rs. 4.40 crore has been approved for J&K Employees Provident Fund (EPF) Organization for the year 2009-10..
This was decided at the 71st meeting of Board of Trustees of J&K Employees Provident Fund Organization held here yesterday under the Chairmanship of Minister for Industries & Commerce, Labour and Employment, Mr. Surjit Singh Slathia.
The meeting was attended by Principal Secretary, Industries and Commerce, Mr. Anil Goswami, Commissioner/Secretary, Finance, Mr. Sudhanshu Panday, Commissioner/Secretary, Labour and Employment, Kr. Khalid Habib, Labour Commissioner, Mr. Abdul Hamid Wani, President, Chamber of Commerce, Kashmir, Mr. Mubin Shah, President, Chamber of Commerce, Jammu, Mr. Ram Sahai, representatives of State and Central Labour Unions and senior officers of EPF Organization.
The meeting was informed that the expenditure of J&K EPF Organization on account of administration is met out from the administrative charges collected from employers of the covered establishment and added that so far 8175 units/factories/establishments have been brought under the purview of Provident Fund Act/Scheme by the end of Dec. 2008.
Addressing the meeting, the Minister said, if J&K Bank is unable to pay high rate of interest on Rs. 12 crore of EPF organization lying with the bank, the same amount will be invested with any other nationalized bank for the betterment of the Organization and added that for this purpose, an investment committee will be constituted very soon.
The Minister also asked the functionaries to take up the matter regarding audit of accounts of the Organization with the Accountant General.
While taking serious note of non-implementation of decisions taken in the previous Board meetings, Mr. Slathia gave instructions for initiating measures for early implementation of the decisions.
For streamlining the organization, Mr. Slathia said that the re-organization of the same will be initiated and added four meetings of Board of Trustees will be arranged in a year instead of one so that its functioning would be made more effective and accountable. He also asked the functionaries to circulate agenda points to its members a week before the meeting to enable them to enlist their views over different issues. |
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