CENTRAL BOARD

  • (1) The Employees Provident Fund
  • (2) The Pension Fund
  • (3) The Employees Deposit Linked Insurance Fund

vests in and is administered by Central Board of Trustees formed by Central Government u/s 5A. 


COMPOSITION OF THE CENTRAL BOARD OF TRUSTEES [SECTION 5A]

(1) The Central Government may, by notification in the Official Gazette, constitute a Board of Trustees (Central Board)

  • (a) a Chairman and a Vice-Chairman to be appointed by the Central Government;
  • (aa) the Central Provident Fund Commissioner, ex officio;
  • (b) maximum five persons appointed by the Central Government from amongst its officials;
  • (c) maximum fifteen persons representing State Governments appointed by the Central Government;
  • (d) ten persons representing employers appointed by the Central Government after consultation with such organisations of employers; and
  • (e) ten persons representing employees appointed by the Central Government after consultation with such organisations of employees.


FUNCTIONS OF THE CENTRAL BOARD (RIGHTS AND DUTIES)

Rights

  • Section 5A(2) The terms and conditions subject to which a member of the Central Board may be appointed and the time, place and procedure of the meetings of the Central Board shall be such as may be provided for in the Scheme.
  • Section 5A(3) The Central Board shall subject to the provisions of Employees Pension Scheme [section 6A] and Employees Deposit Linked Insurance Scheme [section 6C] administer the Fund vested in it in such manner as may be specified in the Scheme.
  • Section 5A(4) The Central Board shall perform such other functions as it may be required to perform by or under any provisions of the Scheme [Pension Scheme and the Insurance Scheme].
  • Section 5D(3) Appointment of Officers - The Central Board may appoint Additional Central Provident Fund Commissioners, Deputy Provident Fund Commissioners, Regional Provident Fund Commissioners, Assistant Provident Fund Commissioners and such other officers and employees as it may consider necessary for the efficient administration of the Scheme [the Pension Scheme and the Insurance Scheme].
  • Section 5E Delegation - The Central Board may delegate to the Executive Committee or to the Chairman of the Board or to any of its officers and a State Board may delegate to its Chairman or to any of its officers subject to such conditions and limitations, if any, as it may specify, such of its powers and functions under this Act as it may deem necessary for the efficient administration of the Scheme [the Pension Scheme and the Insurance Scheme]

Duties

  • Section 5A(5) The Central Board shall maintain proper accounts of its income and expenditure in such form and in such manner as the Central Government may, after consultation with the Comptroller and Auditor- General of India, specify in the Scheme.
  • Section 5A(6) The accounts of the Central Board shall be audited annually by the Comptroller and Auditor- General of India and any expenditure incurred by him in connection with such audit shall be payable by the Central Board to the Comptroller and Auditor-General of India.
  • Section 5A(7) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the Central Board shall have the same rights and privileges and authority in connection with such audit as the Comptroller and Auditor-General has, in connection with the audit of Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers, documents and papers and inspect any of the offices of the Central Board.
  • Section 5A(8) The accounts of the Central Board as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded to the Central Board which shall forward the same to the Central Government along with its comments on the report of the Comptroller and Auditor-General.
  • Section 5A(9) It shall be the duty of the Central Board to submit also to the Central Government an annual report of its work and activities and the Central Government shall cause a copy of the annual report, the audited accounts together with the report of the Comptroller and Auditor-General of India and the comments of the Central Board thereon to be laid before each House of Parliament.


EXECUTIVE COMMITTEE [SECTION 5AA]

  • (1) The Central Government may, by notification in the Official Gazette, constitute, an Executive Committee to assist the Central Board in the performance of its functions.

  • (2) The Executive Committee shall consist of the following persons as members, namely:—

  • (a) a Chairman appointed by the Central Government;

  • (b) two persons appointed by the Central Government from amongst its officials;

  • (c) three persons appointed by the Central Government from amongst the persons representing State Governments;

  • (d) three persons representing the employers elected by the Central Board from amongst the persons representing employers;

  • (e) three persons representing the employees elected by the Central Board from amongst the persons representing employees;

  • (f) the Central Provident Fund Commissioner, ex officio.

  • (3) The Scheme shall provide for -

The terms and conditions subject to which a member of the Central Board may be appointed or elected to the Executive Committee and

the time, place and procedure of the meetings of the Executive Committee.


STATE BOARD [SECTION 5B] 

  • (1) The Central Government may, after consultation with the Government of any State, by notification in the Official Gazette, constitute for that State a Board of Trustees (State Board) in such manner as may be provided for in the Scheme.
  • (2) A State Board shall exercise such powers and perform such duties as the Central Government may assign to it from time to time.
  • (3) The terms and conditions subject to which a member of a State Board may be appointed and the time, place and procedure of the meetings of a State Board shall be such as may be provided for in the Scheme.