Employees' Provident Fund Organisation

Employees Provident Fund Organisation
कर्मचारी भविष्य निधि संगठन
Organization overview
Formed4 March 1952 (1952-03-04)
JurisdictionIndia
HeadquartersBhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place,
New Delhi
Organization executive
  • Neelam S Rao, CPFC
Parent departmentMinistry of Labour and Employment, Government of India
Parent OrganizationCentral Board of Trustees (CBT)
Websiteepfindia.gov.in.org

The Employees' Provident Fund Organisation (EPFO) is one of the two main social security organization under the Government of India's Ministry of Labour and Employment and is responsible for regulation and management of provident funds in India, the other being Employees' State Insurance. The EPFO administers the retirement plan for employees in India, which comprises the mandatory provident fund, a basic pension scheme and a disability/death insurance scheme. It also manages social security agreements with other countries. International workers are covered under EPFO plans in countries where bilateral agreements have been signed. As of May 2021, 19 such agreements are in place.[1] The EPFO's top decision-making body is the Central Board of Trustees (CBT),[2][3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952.[4] As of 2021, more than ₹15.6 lakh crore (US$209 billion) are under EPFO management.[5]

On 1 October 2014 the Government of India launched a Universal Account Number for employees covered by EPFO to enable Provident Fund number portability.[6] DON,1

  1. ^ "EPFO -- International Workers". www.epfindia.com.
  2. ^ "Interest rate on Public Provident Fund cut to 8.1% from 8.7%". The Economic Times. Press Trust of India. 18 March 2016. Retrieved 18 March 2016.
  3. ^ "EPFO to invest more in government bonds amid corporate loan defaults". The Economic Times. Press Trust of India. 18 March 2016. Retrieved 18 March 2016.
  4. ^ "EPFO data shows 9.73 lakh jobs created in September, highest in past 13 months". www.businesstoday.in. Retrieved 16 December 2016.
  5. ^ "NIRBADH SEAMLESS SERVICE DELIVERY EPFO to e-EPFO" (PDF). epfindia.gov.in/. November 2021. Retrieved 11 February 2024.
  6. ^ "PM Narendra Modi unveils labour reforms; launches Universal Account Number for employees". The Economic Times. 16 October 2014.