Lok Sabha Question No. 5498 (UNSTARRED), answered on 2023-04-05
Subject: PFT in Steel PSUs
Ministry: STEEL
Asked by: Ramya  Haridas

## GOVERNMENT OF INDIA MINISTRY OF STEEL

## LOK SABHA UNSTARRED QUESTION NO. 5498

FOR ANSWER ON 05.04.2023

## PFT IN STEEL PSUS

5498.   MS. RAMYA HARIDAS:

Will the Minister of STEEL be pleased to state:

- (a) the details of the number of Provident Fund Trusts (PFTs) working in all the units of  Steel  Authority  of  India  Limited  (SAIL),  the  name  of  each  trust  and  number  of members registered therewith;
- (b) the details about the rate of interest paid by each PFT of SAIL to its members during the last five years, trust-wise and year-wise; and
- (c) the rationale behind having independent PFT in each unit of SAIL instead of having an  integrated  PFT  along  with  the  reasons  for  not  reducing  the  operational  cost  by integrating said trusts?

## ANSWER

(SHRI FAGGAN SINGH KULASTE)

THE MINISTER OF STATE IN THE MINISTRY OF STEEL

( a)&(b): Details of Provident Fund Trusts working in all Plants/Units of Steel Authority of  India  Limited  (SAIL),  name  of  each  PF  Trust,  number  of  members  registered therewith and the rate of interest paid by each PF Trust during last five years is placed at Annexure-A.

- (c) The rationale behind each unit of SAIL having its own independent Provident Fund Trust instead of having an integrated Provident Fund Trust and not reducing the operational cost by integrating said trusts is as under:-

PF  Trusts  in  Plants/Units  were  formed  as  per  the  provisions  of  the  EPF  & Miscellaneous Provisions Act 1952 and Rules/conditions framed thereof. Exemption has been granted by the PF Authorities under Section 17 of the Act. This was done to ensure proper accounting of receipts to provident fund, timely payments from Provident fund by each Plant/Unit and ease of service / claim settlements of its Members, etc.

******

## Annexure-A

|       |                                                      |                                                                                                     | No of members                      | Rate of Interest   | Rate of Interest   | Rate of Interest   | Rate of Interest   | Rate of Interest   | Rate of Interest   |
|-------|------------------------------------------------------|-----------------------------------------------------------------------------------------------------|------------------------------------|--------------------|--------------------|--------------------|--------------------|--------------------|--------------------|
| S.No  | Establishment Name                                   | Trust Name                                                                                          | as on 29 Mar' 2023 (Approximately) | F.Y. 2016-17       | F.Y. 2017-18       | F.Y. 2018-19       | F.Y. 2019-20       | F.Y. 2020-21       | F.Y. 2021-22       |
| 1     | Bhilai Steel Plant                                   | Board of Trustees, Hindustan Steel Limited, Bhilai Steel Project Provident Fund                     | 17014                              | 8.90%              | 9.15%              | 8.72%              | 8.50%              | 8.50%              | 8.10%              |
| 2     | SAIL -Refractory Unit IFICO                          | India Fire Bricks Insulation PF Trust                                                               | 158                                | 8.65%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.10%              |
| 3     | SAIL- Refractory Unit                                | Bharat Refractories Provident Fund                                                                  | 374                                | 8.90%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.10%              |
| 4     | SAIL -CCSO                                           | CCSO Provident Fund Trust                                                                           | 53                                 | 8.80%              | 8.65%              | 8.65%              | 8.50%              | 8.70%              | 8.10%              |
| 5     | Research Development Centre for Iron & Steel (RDCIS) | Hindustan Steel Provident Fund Trust                                                                | 446                                | 8.65%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.10%              |
| 6     | Bokaro Steel Plant                                   | Bokaro Steel Employees Provident Fund (BSEPF)                                                       | 12090                              | 8.65%              | 8.55%              | 8.65%              | 8.65%              | 8.50%              | 8.10%              |
| 7     | Vishweshwarayya Iron & Steel Ltd                     | VISP Employees Provident Fund Trust                                                                 | 264                                | 8.65%              | 8.55%              | 8.65%              | 8.65%              | 8.75%              | 8.35%              |
| 8     | Rourkela Steel Plant                                 | Hindustan Steel Limited Contributory Provident Fund, Rourkela                                       | 12899                              | 8.65%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.10%              |
| 9     | Bolani Ore Mines                                     | Bolani Ore Mines Provident Fund                                                                     | 518                                | 8.90%              | 8.65%              | 8.65%              | 8.50%              | 8.75%              | 8.10%              |
| 10    | IISCO Steel Plant                                    | IISCO Provident Institution IISCO Provident                                                         | 7073                               | 9.00%              | 8.80%              | 9.00%              | 8.75%              | 8.80%              | 8.35%              |
| 11    | SAIL- Raw Material Division*                         | SAIL RMD Establishment and Administrative Offices Employees Provident Fund                          | 0                                  | 8.65%              | 8.65%              | 8.80%              | 8.50%              | 8.50%              | N.A.*              |
| 12    | SAIL-Alloy Steels Plant                              | SAIL Alloy Steel Plant PF Trust                                                                     | 2916                               | 9.00%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.15%              |
| 13    | Durgapur Steel Plant                                 | Durgapur Steel Plant Provident Fund Trust                                                           | 8164                               | 9.05%              | 8.80%              | 8.65%              | 8.50%              | 8.50%              | 8.60%              |
| 14    | SAIL -Central Marketing Organisation                 | Hindustan Steel Limited, Central Purchase Organisation, Sales and Transport Calcutta Provident Fund | 986                                | 8.65%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.50%              |
| 15    | SAIL- Salem Steel Plant                              | SSP PF Trust                                                                                        | 804                                | 8.65%              | 8.55%              | 8.65%              | 8.50%              | 8.50%              | 8.10%              |
| 16    | SAIL-Corporate Office, New Delhi                     | Steel Authority of India Limited Provident Fund Trust                                               | 351                                | 9.00%              | 9.00%              | 8.90%              | 8.875%             | 8.875%             | 8.63%              |
| 17    | Collieries**                                         | Coal Provident Fund Organisation                                                                    | 938                                | 8.60%              | 8.50%              | 8.60%              | 8.50%              | 8.50%              | 8.00%              |
| Total | Total                                                | Total                                                                                               | 65048                              |                    |                    |                    |                    |                    |                    |