The Employees’ Provident Fund Organisation’s trustees are likely to approve this month a proposal to provide ‘Contribution Card’ similar to a bank pass book to its around 50 million subscribers from April 1 this year. The retirement fund body will make it mandatory for every employer to provide this card to his employees. The card shall have details of account and will be updated every month. The proposal to provide ‘Contribution Card’ to subscribers from April 1, 2012, will be discussed at the meeting of the EPFO’s apex decision making body — the Central Board of Trustees’ (CBT) headed by the Labour Minister — on February 22, a source said.
Source: The Hindu Business Line
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