Dr. Mansukh Mandaviya Chairs 239th meeting of Central Board of Trustees (CBT), EPF

1. At a Glance

Central Board of Trustees (CBT) is the apex tripartite decision-making body of the Employees' Provident Fund Organisation (EPFO), statutorily constituted under the EPF & MP Act, 1952 [S1].
239th meeting (02 March 2026) recommended 8.25% EPF interest for FY 2025-26, approved a pilot auto-claim settlement for small inoperative accounts, an Amnesty Scheme for exempted establishments, and new EPF/EPS/EDLI schemes aligned with the Code on Social Security, 2020 [S1][S2].
Directly relevant to UPSC GS-II (social security governance) and GS-III (savings, labour reforms, formalisation).

On 2 March 2026, Union Minister for Labour & Employment Dr. Mansukh Mandaviya chaired the 239th CBT meeting in New Delhi [S1].
Headline decision: continuation of 8.25% interest rate on EPF for the third consecutive year (same rate as FY 2023-24 and FY 2024-25) [S1][S2].

EPF & MP Act, 1952 established compulsory provident fund for industrial workers; EPFO created as administering body [S1].
CBT, EPF: tripartite body — Government, Employers, Employees — chaired by the Union Labour Minister; Central PF Commissioner is Member-Secretary [S1].
Interest rate trajectory: 8.10% (FY 2021-22) → 8.15% (FY 2022-23) → 8.25% (FY 2023-24, 2024-25, 2025-26) [S1][S2].
Code on Social Security, 2020 subsumes EPF & MP Act, 1952; CBT now aligning EPF/EPS/EDLI schemes to the new Code [S1].

Parent Ministry: Ministry of Labour & Employment [S1].
Statutory base: EPF & Miscellaneous Provisions Act, 1952; transitioning to Code on Social Security, 2020 [S1].
Three schemes administered: EPF Scheme 1952, Employees' Pension Scheme (EPS) 1995, Employees' Deposit Linked Insurance (EDLI) Scheme 1976 [S1].
EPF interest FY 2025-26: 8.25% (recommended by CBT; to be notified by Government / Ministry of Finance concurrence) [S1][S2].
Auto-claim pilot: covers inoperative accounts with balances ≤ ₹1,000; ~1.33 lakh accounts, ~₹5.68 crore in first phase [S1][S2].
Amnesty Scheme: one-time, 6-month window for income-tax recognised trusts yet to be covered/granted exemption under EPF & MP Act; waives damages, interest, penalties; expected to resolve 100+ active litigations [S2].
CBT composition: Chair (Labour Minister), Vice-Chair (MoS Labour), Central PF Commissioner, Central Govt nominees, State Govt reps, Employers' reps, Employees' reps [S1].

Economic — 8.25% rate higher than small-savings yields (PPF 7.1%); affects ~7 crore subscribers and corpus management of EPFO (largest social-security fund in India) [S1][S2].
Social — Auto-claim of dormant low-value accounts targets migrant/informal/low-wage workers who lose track of small balances; Aadhaar-seeded credit removes documentation barrier [S2].
Legal / Constitutional — Aligns subordinate schemes with Code on Social Security, 2020; concurrent list (List III, Entry 23 — Social Security & Social Insurance) [S1].
Administrative — Simplified SOP on EPF exemption for exempted trusts to enhance transparency; Amnesty Scheme reduces litigation backlog [S1][S2].
Ethical / Governance — Tripartite governance ensures worker voice; "trust the worker" approach in auto-settlement (no fresh claim/documentation) [S2].

02 Mar 2026: 239th CBT — 8.25% interest, auto-claim pilot, amnesty scheme, new EPF/EPS/EDLI schemes under Code on Social Security 2020 [S1].
Nov 2025: 238th CBT meeting [S1 search index].
Feb 2025: 237th CBT recommended 8.25% for FY 2024-25 [S1 search index].
2024: 236th CBT under Mandaviya; EPFO expanded banking network to 32 empanelled banks [S1 search index].

CBT, EPF is chaired by the Union Minister for Labour & Employment [S1].
Member-Secretary of CBT = Central Provident Fund Commissioner [S1].
EPF interest for FY 2025-26 = 8.25% (recommended at 239th CBT) [S1][S2].
EPFO administers three schemes: EPF 1952, EPS 1995, EDLI 1976 [S1].
Statutory parent: EPF & MP Act, 1952; being subsumed under Code on Social Security, 2020 [S1].
Auto-claim pilot threshold for inoperative accounts: ₹1,000 or less [S1][S2].
Auto-claim Phase-I scope: 1.33 lakh accounts / ₹5.68 crore [S1][S2].
Amnesty Scheme is for income-tax recognised trusts not yet covered/exempted under EPF Act; 6-month compliance window [S2].
Final notification of EPF interest rate is issued by Ministry of Finance / Government of India, not EPFO itself [S1].
Subject under Constitution: Concurrent List, social security [S1].

GS-II: Government policies for vulnerable sections; statutory bodies.
GS-III: Mobilisation of resources; employment; labour reforms.
Plausible stems: 1. "Discuss the significance of the Code on Social Security, 2020 in unifying India's fragmented social security architecture. How does EPFO fit into the new framework?" 2. "Examine the governance model of the Central Board of Trustees, EPF, in the context of tripartism in Indian labour administration." 3. "Auto-settlement of dormant EPF accounts marks a shift from claim-based to entitlement-based delivery. Critically evaluate."

Code on Social Security, 2020 — parent code subsuming EPF Act.
Four Labour Codes (Wages, Industrial Relations, OSH, Social Security) — broader reform context.
ESIC & PMSYM — other social-security architecture.
Atal Pension Yojana / NPS — comparator pension schemes.
e-Shram portal — informal sector database, complementary to EPFO formal coverage.
PMGKY / EPFO contribution support — fiscal interface with formal employment.
Small Savings Schemes (PPF/SCSS) — rate-setting comparator.
EPFO Equity Investment (ETF) framework — corpus management.

EPF interest is recommended by CBT but notified by Government of India — not unilaterally by EPFO.
EPFO is under Ministry of Labour & Employment, not Ministry of Finance.
Don't confuse EPS 1995 (pension) with EPF 1952 (provident fund) or EDLI 1976 (insurance).
Auto-claim pilot covers inoperative accounts ≤ ₹1,000, not all dormant accounts.
Amnesty Scheme targets exempted/yet-to-be-exempted trusts, not defaulting employers in general.
CBT chair is Labour Minister, not Finance Minister or PF Commissioner.

[S1] Dr. Mansukh Mandaviya Chairs 239th meeting of CBT, EPF — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2234502 — (tier: 1)
[S2] EPFO Approves One-Time Amnesty Scheme / Auto-claim details — corroborating PIB press release content via 239th CBT coverage indexed at pib.gov.in (PRID=2234502) — (tier: 1)