Employees' Provident Fund Organisation
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Native name
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कर्मचारी भविष्य निधि संगठन |
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| Founded | INDIA(4 March 1952) |
| Headquarters |
Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi, India |
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Key people
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Dr. V P Joy, Central Provident Fund Commissioner, M. Narayanappa Additional Central Provident Fund Commissioner, Rajesh Bansal Additional Central Provident Fund Commissioner |
| Services | Provident Fund, Pension and Insurance schemes, Implementing agency for Bilateral Social Security Agreements |
| Website | www |
The Employees' Provident Fund Organisation (abbreviated to EPFO), is an Organization tasked to assist the Central Board of Trustees, a statutory body formed by the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative control of the Ministry of Labour and Employment, Government of India.
EPFO assists the Central Board in administering a compulsory contributory Provident Fund Scheme, a Pension Scheme and an Insurance Scheme for the workforce engaged in the organized sector in India. It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis. The schemes cover Indian workers as well as International workers (for countries with which bilateral agreements have been signed. As of now 17 Social Security Agreements are operational). It is one of the largest social security organisations in India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken. The EPFO's apex decision making body is the Central Board of Trustees (CBT).
The total assets under management are more than ₹8.5 lakh crore (US$128 billion) as of 18 March 2016.
On 1 October 2014, Prime Minister of India Narendra Modi launched Universal Account Number for Employees covered by EPFO to enable PF number portability.
Employee Enrolment Campaign 2017 On the recommendation of the Central Board (EPF), Government of India on 30 December 2016 notified a special campaign to enrol left out eligible workers under the under the EPF&MP Act 1952. The campaign aims to encourage employers to voluntarily come forward and declare details of employees who were entitled for membership between 01.04.2009 and 31.12.2016 but could not be enrolled for any reason. Running from January 1 to 31 March 2017 this special campaign offers a limited window to employers to bring declare and enrol left out workers as one time opportunity. The scheme offers attractive concessions to encourage voluntary compliance. Under the Scheme, the employee’s share of contribution if not deducted by the employer is waived. The damages to be paid has been kept at a nominal rate of Rupee 1(one) per annum. The administrative charges for such declarations have also been waived. EEC Circular
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