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The body clears proposals on aspects like interest rates and other amendments which have to be generally endorsed by the government. NAGPUR: Veteran union leader and former textile minister of the state, Haribhau Naik , has demanded that the recent proposal to allow a loyalty bonus of Rs50,000 to employees provident fund members should be extended to those who have retired earlier as well.The central board of trustees (CBT), which is the governing body of employees provident fund organisation (EPFO), has cleared a proposal to allow loyalty bonus to those who have contributed to PF account for 20 years. The move will, however, need a final endorsal from the government.Naik, in a press release issued here, said that the move should be implemented retrospectively. This will benefit even those workers who have retired earlier but have contributed to EPFO for 20 years or more, said the press release.The CBT has representatives of employers as well as trade union leaders as its members.
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