Union Minister for Labour and Employment Dr. Mansukh Mandaviya chaired the 236th meeting of the Central Board of Trustees (CBT), EPFO, in New Delhi on Saturday. During the meeting, the board approved a proposal for the simplification of the criteria for the empanelment of banks for the centralized collection of EPF contributions. The new criteria will include all agency banks listed with the RBI. The board also approved the empanelment of other Scheduled Commercial Banks that are not RBI Agency Banks but have a minimum of 0.2 percent of total EPFO collection. This criterion has been relaxed from the earlier 0.5 percent. This initiative will enhance both the Ease of Doing Business and the Ease of Providing Service. The board also recommended the EPFO Amnesty Scheme 2024 to the central government, which aims to encourage employers to voluntarily disclose and rectify past non-compliance or under-compliance without facing penalties or legal repercussions. During the financial year 2023-24, EPFO settled 4.45 crore claims amounting to 1.82 lakh crore rupees. In the current financial year, 3.83 crore claims have already been settled for more than 1.57 lakh crore rupees.