EPF panel clears incentive scheme

NEW DELHI DEC. 4. Besides setting up a committee to work out and finalise modalities for the housing scheme for the subscribers, the Executive Committee of the Central Board of Trustees of EPF has approved an incentive scheme for the employees to improve the efficiency of the Employees Provident Fund Organisation (EPFO).

Briefing mediapersons on the decision taken by the Executive Committee, which met today, the Union Labour Minister, Sahib Singh Verma, said that the housing scheme would be implemented across the country wherever there were EPF subscribers. The State Governments were responding to the requests of his Ministry for providing land for the housing colonies and complexes for the EPF subscribers.

The cooperation of the States would help if land were provided at concessional or reserved rates. The Union Urban Development Minister and HUDCO were being involved in the implementation of the scheme, which would become functional after the Committee worked out the modalities, Mr. Verma said. The Labour Minister said the Government plans to implement the scheme at the earliest. A beginning would however be made soon by providing 10,000 Janata Flats in Delhi which were available with the Delhi Development Authority.

He was hopeful of launching the scheme with the first round of allotments on the birthday of the Prime Minister on December 25. Those interested have been asked to apply through their organisation. While the Executive Committee approved the performance report of the EPFO, he said the incentive schemes carrying rewards up to Rs. 10,000 would help enhance efficiency even as the pace of settling claims has been accelerated. Effective steps have been taken to bring down arrears of the EPF. The officials reported higher recovery in Rs. 593 crores out of the outstanding arrears demand of Rs. 1546 crores in the unexempted sector during 2001-2002.

Recommended for you