The Elders are so poorly defined it's hard to tell. If we're talking about the apparently-immortal godlike chessmasters of Theodicy/Empyrean Age, probably not directly (though thankfully the current lore team seems to be happy to dump that particular TonyGism at the first chance).
If we're talking about The Elders as they are portrayed elsewhere, as the name of any tribal/clan leader of significant enough rank, almost undoubtedly. Under this definition, I'd say the Tribal Council is probably formed almost universally of Elders of varying rank, so definite yes.