New Delhi, May 11 -- Over 1,250 private trusts managing more than Rs.3.50 lakh crore life-savings of nearly 3.2 million employees will have to provide either "better or at least equal" benefits to their workers in comparison to terms offered by government-run Employees' Provident Fund Organisation (EPFO), according to the new standard operating procedure (SOP). "Non-compliance by any private trust would result into cancellation of the exemption status," a senior official said, asking not to be named. Private or exempted establishments are companies that manage their own private provident fund (PF) trust rather than depositing employees' contributions into the central pool of EPFO. They are both public and private sector firms. The new and s...