Trust Deficit In EPFO Meeting

Jan 04 2014, 04:42 IST
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SummaryMembers to the EC are elected by the trustees from amongst themselves.

The upcoming meeting of the EPFOís Central Board of Trustees on January 13 is set to be an interesting affair. The meeting of the trustees is likely to be preceded by a meeting of the EPFOís Executive Committee on January 10. But hereís the catch: Members to the EC are elected by the trustees from amongst themselves. But since this is the CBTís first meeting since being reconstituted in May 2013, the EC is yet to be finalised. While the trustees are questioning the validity of the EC meeting as it is yet to be re-constituted , the EPFO is trying to pass it off as an interim exercise that will consist of the earlier committee to tide over the temporary problem.

Giving a pass to bank statements

Is it cost cutting or being environmentally friendly? A leading private sector bank that till recently sent out bank statements by post to customers (that requested the service) has chosen to discontinue it. Instead, following the footsteps of public sector banks, it has mailed passbooks to these customers advising them to visit their nearest bank branch to keep their bank statements updated.

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