The Central Board of Trustees (CBT), EPFO, held its 236th meeting on Saturday (December 1, 2024) and made several important decisions.
These adjustments pertain to the redemption policy for ETF investments, investment in InvITs and REITs, & providing subscribers a increased interest rate.
Mrs Mansukh Mandaviya (MYAS), Union Minister for Youth Affairs and Sports and Labour & Employment, presided over the gathering. The Indian government’s primary ministry for overseeing the growth of sports and games in the nation is the Ministry of Youth Affairs and Sports (MYAS).
The vehicle claims settlement facility’s cap was raised from ₹50,000 to ₹1 lakh, and this increase also applies to advances for housing, marriage, and education.
These are the important decisions that were made in 236th meeting of CBDT-EPFO on 1 Dec 2024
Reduced Pendency & Timely Management
Increased Internet
Investment in REITs and InvITs
ETF Investment Redemption Policy
In order to prevent members (ETF) from losing interest, interest-bearing claims are not currently processed b/w the 25th and the end of each month. Now, claims will be handled for the full month, which will decrease pendency and speed up settlement for peoples comfort.
The member will now receive interest payments through the settlement date. Members will profit monetarily from this, and fewer complaints will be filed. According to current policy regulations, interest is only paid through the end of the previous month for claims that are settled before the 24 th of the month.
REIT (Real Estate Investment) & InvIT ( Infrastructure Investment Trusts) Investment: The board also released rules for investing in units issued by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) supported by Public Sector Undertakings.
ETF Investment Redemption Policy: In order to provide income for the “Interest Account” of the EPF Scheme, the Board additionally authorised a Redemption Policy for ETF investments in Bharat 22 & Central Public Sector Enterprises (CPSE). A minimum five-year holding period, returns higher than government securities, and performance above the Central Public Sector Enterprises (CPSE) and Bharat 22 indices are also required under the policy.
