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The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management.
Legally, the EPF is only obligated to provide 2.5% dividends (as per Section 27 of the Employees Provident Fund Act 1991). [8] The EPF claims that the lowered dividend is the result of its decision to invest in low-risk fixed revenue instruments, which produce lower returns but maintains the principal value of its members' contributions.
Step 2 – The existing bank will then forward the certified copy of the account, the account opening application, nomination form, and specimen signature. It will also forward the cheque/dd for the outstanding amount in the PPF account to the new bank at the branch specified by the customer.
The same year the present Karmachari Sanchaya Kosh (KSK), or Employees Provident Fund (EPF) in English, was established under the act as an autonomous provident fund organization. After the establishment of EPF, the erstwhile Sainik Drabya Kosh, Nijamati Provident Fund and Provident Fund Department were merged into the EPF. [ 4 ]
Provident fund is another name for pension fund.Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments.
In March 2014 Nilekani resigned as the chairman to contest in the general election on an Indian National Congress nomination from Bangalore South. [80] His responsibilities were taken over by 1981-batch IAS officer Vijay Madan, who was given an extension of his term as the director-general and mission director by the government. [ 81 ]
Dublin University is a university constituency in Ireland, which elects three senators to Seanad Éireann, the senate of the Oireachtas (the legislature of Ireland).Its electorate comprises the undergraduate scholars and graduates of the University of Dublin, whose sole constituent college is Trinity College Dublin, so it is often also referred to as the Trinity College constituency.
[B] [64] The nomination expired in January 2017, at the end of the 114th Congress. [65] Similarly, the Senate has the prerogative to take no action on a nomination, or to table it, effectively eliminating any prospect of the person's confirmation. Though frequently attempted over the years, a successful vote to table a nomination has been a ...