What is the full form of EPFO?
The EPFO full form is Employees’ Provident Fund Organisation. It is a statutory body tasked with assisting the Central Board of Trustees (CBT) of the Indian government. The Miscellaneous Provisions Act of 1952 and the Employees Provident Fund establish it. It falls under the administrative jurisdiction of the Ministry of Labor and Employment of the Indian government. It has approximately 122 offices scattered across the country.
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EPFO is one of the major social security organizations in India, judging by the number of applications and financial activities. It provides assistance to the Central Board in the administration of an obligatory provident fund contribution program. In addition, it acts as a hub for other nations to implement Bilateral Social Security Agreements.
A basic overview of EPFO
1951 saw the establishment of the Employee’s Provident Fund Ordinance, which was eventually replaced by the Employee’s Provident Fund Act of 1952. The Employees Provident Funds and Miscellaneous Provisions Act of 1952 is the name of this case. It applies across India with the exception of Jammu and Kashmir.
Structure of EPFO
- In India, the organization is divided into a number of zones, each of which is led by an Additional Central Provident Fund Commissioner.
- Each state requires at least one regional agency supervised by a Regional Provident Fund Commissioner, Grade I.
- The organization has been broken into many regions that are administered by Regional Provident Fund Commissioners, Grade II.
- In the majority of regions, EPFO has also established district offices staffed by a Compliance Officer to oversee local institutions and resolve concerns.
Service offered by EPFO
With regard to employers
- UAN staff member e-Sewa.
- Provides online UAN status.
- Staff’ EPFO Grievance Management system.
- Online Transfer Claim Submission Portal for submitting transfer claims online.
- COC Request form for saving data on the EPFO website.
- A platform allowing pension funds to obtain data or information pertinent to pensions.
- Inactive Accounts help desk assistance.
With regard to employers
- The organization’s online registration.
- Information about UAN (Universal Account Number)
- Online EPF Subscription Payment
- Online Challan Submission or ECR Submission
- System of EPFO Grievance Management
- Online Transfer Claim Portal
EPFO-implemented programs
The various programs or schemes implemented by EPFO are:
- Employee’s Pension Scheme
- EPF (Employee’s Provident Fund Scheme)
- EDLI (Employee’s Deposit Linked Insurance Scheme)
