Board of Trustees governance under provident fund and pension schemes with equal representation, quarterly meetings, and binding clarification mechanisms. The rule governs the management of the Provident Fund or Pension Fund through a Board of Trustees with equal employer and employee representation, chairpersonship by the employer in an exempted establishment, quarterly meetings, and compliance with scheme-based terms on tenure, election, quorum, records and other management conditions. Disputes on interpretation are referred to the Central Government, while other exemption-related clarifications are referred to the Central Provident Fund Commissioner or authorised officers, whose views are binding.