The central board of trustees of Employees Provident Fund Organisation (EPFO) today held a brain-storming session to discuss ways to tide over the additional burden of an estimated Rs 927 crore due to the hike in interest rate to 9.5 per cent for 2004-05.As part of its efforts to mop up additional resources, the meeting laid emphasis on a special coverage drive and recovering arrears from defaulting establishments, sources said.The 171st meeting of the trustees is also believed to have taken up the valuation report of the panel of actuaries on Employees Pension Scheme (EPS), which reportedly showed some deficit mainly due to interest rate hike and enhancement of monthly wage limit for eligibility from Rs 5,000 to Rs 6,500.Sources did not rule out the possibility of the labour ministry, under which EPFO falls, approaching the finance ministry to bail it out if it was not able to mobilise resources.
