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Context: The Union government has reconstituted the Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) by excluding representatives of the Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), and All India United Trade Union Centre (AIUTUC) from the panel.

Key Highlights

Exclusion of Trade Union Representatives

• The Union government has excluded representatives from major trade unions, namely the Indian National Trade Union Congress (INTUC), All India Trade Union Congress (AITUC), and All India United Trade Union Centre (AIUTUC), from the reconstituted Central Board of Trustees.

Exclusion of Employers' Organization

• The All India Manufacturers Association, an organization founded by M. Visvesvaraya in 1941 representing employers, did not secure a place on the new panel.

Inclusion of Laghu Udyog Bharati

• Laghu Udyog Bharati, an employers' organization supported by the Rashtriya Swayamsevak Sangh (RSS), managed to secure two members on the reconstituted panel.

Five-Year Tenure

• The new panel will have a tenure of five years, as indicated in the notification released by the Union Labour Ministry.

Representation from Trade Unions and Employers

• The reconstituted panel includes representation from both employees and employers. Both groups have 10 representatives each, in addition to representatives from the Union and State Labour departments.

Chairmanship

• Union Labour Minister Bhupender Yadav serves as the Chairman of the CBT, indicating a significant role in overseeing the EPFO.

Consultation with Trade Unions

• Government sources have indicated that the selection of panel members was done after consultation with trade unions. In place of the excluded trade unions, the Trade Union Coordination Centre, Self Employed Women’s Association, and the National Front of Indian Trade Unions have been newly inducted into the panel.

Conclusion

• This reconstitution reflects a change in the composition of the EPFO governing body, with new organizations gaining representation and the exclusion of certain long-standing entities, leading to criticism from the affected trade unions. The government claims that the decision was made after consultation with trade unions and is aimed at addressing internal leadership disputes within the excluded entities.

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PRACTICE QUESTION Q. What are the key benefits and features provided by the Employees Provident Fund Organisation (EPFO) in supporting the financial well-being of employees, and how does the EPF scheme contribute to the overall social security framework in a country?