Employees Provident Fund Organisation (EPFO)
26-08-2023
11:25 AM
1 min read
Overview:
Union Minister for Labour & Employment, Environment, Forest & Climate Change, Shri Bhupender Yadav recently inaugurated the 70th Foundation Day of EPFO.
About Employees Provident Fund Organisation (EPFO):
- It was established in 1952.
- It is under the administrative control of the Union Ministry of Labor and Employment.
- Mandate:
- It is tasked to assist the Central Board of Trustees in implementing the following three schemes for the workforce engaged in the organized sector in India:
- EPF Scheme 1952;
- Pension scheme 1995 (EPS); and
- Insurance scheme (EDLI).
- It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis.
- In 2014, union government launched Universal Account Number (UAN) for Employees covered by EPFO to enable PF number portability.
- It is tasked to assist the Central Board of Trustees in implementing the following three schemes for the workforce engaged in the organized sector in India:
Source : PIB