The Central Board of Trustees, Employees Provident Fund, EPF today approved a proposal for appointment of custodian of securities of the organisation. The step has been taken to separate the custodial services from Fund Managers to bring further transparency in the management of EPFO corpus. An official release issued after the Board meeting says that the meeting deliberated upon a proposal for further extension of the Selection process of the new fund managers for a period of two months with effect from July. It was also decided that State Bank of India will continue to be the Fund Manager for the EPFO till the expiry of the extended period. Briefing reporters after the meeting the Labour and Employment Minister Mallikarjuna Kharge said that the Board decided to refer the report of working group on comprehensive amendment to the employees Provident Fund for further examination. Secretary Labour and Employment was also present in the meeting apart from the members of the Board of Trustees.