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70th Foundation Day Of EPFO

70th Foundation Day Of EPFO:

Union Minister for Labour & Employment, Environment, Forest & Climate Change, Shri Bhupender Yadav recently inaugurated the 70th Foundation Day of EPFO(Employees’ Provident Fund Organisation)

  • It was established in 1952.
  • It is under the administrative control of the Union Ministry of Labor and Employment.
  • 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.