Millennium Post

EPFO mulling housing scheme for subscribers

“The issue of providing houses as a social security benefits to the subscribers of the schemes ... has been discussed in Central Board of Trustees (CBT) meetings,” Labour Minister Bandaru Dattatreya said in written reply to the Lok Sabha on Monday. “The CBT in its 205th meeting held on December 19, 2014 has decided to constitute a sub-committee to consider the issue,” the minister said.

The Employees’ Provident Fund Organisation (EPFO) manages a huge corpus of Rs 6 lakh crore with average annual incremental deposits of Rs 70,000 crore.

In a separate reply, the minister said Rs 27,448.54 crore lying in inoperative accounts as on
March 31, 2014.

In 2013-14, EPFO disbursed Rs 4,316.7 crore from inoperative account, Rs 2,890.39 crore in 2012-13
and Rs 955.51 crore in 2011-12.

As of September 2014, total number of PF accounts being handled by EPFO are 13.10 crore.

The minister said that number of persons getting pension under Employees’ Pension Scheme as on December 31, 2014 is at 52.86 lakh.
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