02 Aug
|
Textiles
|
Rishra
Job Purpose:
The role is responsible for the end-to-end management of the Provident Fund (PF) Trust, ensuring compliance with statutory regulations, productive fund administration, timely reporting, and governance of trust-related activities. The incumbent will act as a liaison between employees, trustees, regulatory authorities, and internal stakeholders.
Job Context & Major Challenges:
Job Context:
PF Trust for Jayashree Textiles (JST) and the Insulators business is jointly managed by a resource. JST has relatively large stake in PF Trust Management on account of the volume of members. This requires a thorough understanding of laws, processes and seamless execution for a perfect employee experience
Major Challenges:
- Large volume
- Offline-Trust
- Changing Legal landscape and continuous updation required in terms of rules
Accountability
Supporting Actions
Trust Governance & Compliance
- Ensure strict adherence to PF Trust Rules, Trust Deed, and bylaws under Employees’ Provident Funds & Miscellaneous Provisions Act, 1952, and related schemes (EPF, EPS),
- Manage statutory obligations related to exempted PF trusts.
- Ensure timely filing of PF Trust returns, statutory submissions, and disclosures.
- Coordinate with EPFO, auditors and other stakeholders, for regulatory for inspections and approvals.
- Ensure adherence to investment guidelines prescribed by EPFO/MoF.
- Maintain proper documentation, trust deed updates, and board resolutions.
PF Trust Operations - Managing member Accounts & Settlements
- Manage member accounts, including:
- Accurate Contributions posting
- Accurate Interest calculation
- Withdrawals, transfers, pension claims
- Ensure timely settlement of employee claims – withdrawals, transfers and settlements
- Ensure reconciliation of member balances with trust books.
Fund Management & Investments
- Ensure investments are made as per EPFO investment guidelines
- Liaise with fund managers, banks, and institutions for investment execution.
- Monito
📌 Front Line Officer (Rishra)
🏢 Textiles
📍 Rishra