Employees Provident Fund Organisation (EPFO)

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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. 

Source : PIB