COAL MINES PROVIDENT FUND ORGANISATION
The Coal Mines Provident Fund Organisation is an autonomous body set up under the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948. The Organisation administers the Coal Mines Provident Fund Scheme, 1948, Coal Mines Family Pension Scheme, 1971 since superseded by a new scheme namely Coal Mines Pension Scheme, 1998 which was brought into force w.e.f. 31.3.98 and the Coal Mines Deposit Linked Insurance Scheme, 1976 which are all framed under the aforesaid Act.
The Fund of the Organisation is administered by a tripartite body, called the Board of Trustees, consisting of representatives of (i) the Central Government/State Governments, (ii) the employers and (iii) the employees. The Board of Trustees functions under the overall administrative control of the Department of Coal. The Board reviews the functioning of the Organisation at every meeting.
One of the most important landmarks in the history of CMPF Organisation is the introduction of Coal Mines Pension Scheme, 1998 which has come into force w.e.f. the 31st day of March, 1998. This will benefit around 8 lakhs coal workers in the country. With the introduction of Coal Mines Pension Scheme, 1998 the earstwhile Family Pension Scheme, 1971 has ceased to operate. However, the Pensioners who were drawing benefits under the erstwhile Family Pension Scheme, 1971 will continue to draw Pension under the old Coal Mines Family Pension Scheme, 1971.
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