EPFO is one of the largest social security organizations in the world in terms of clients and volume of financial transactions executed. At present, it maintains accounts of Rs 24.77 crore (annual report 2019-20) related to its members.

EPFO

The Employees Provident Fund appeared with the issuance of the

 Employees Provident Funds Ordinance on November 15, 1951. It was replaced by the Employees Provident Funds Act of 1952. The Employees Provident Funds Bill was submitted to Parliament as Bill No. 15 of 1952 as a bill providing for the establishment of provident funds for employees of Factories and other institutions. The law is now referred to as the Employees Provident Funds and Miscellaneous Provisions Act 1952, which extends to all of India. The law and the schemes framed there are administered by a tripartite board known as the Central Board of Trustees, and the Employees Provident Fund, consisting of representatives of the government (central and state), employers, and employees.

The Central Board of Trustees administers a Contributory Provident Fund, a pension scheme and insurance scheme for the workforce working in the organized sector in India. The Board of Directors is assisted by the PF Staff Organization (EPFO), which consists of offices in 138 locations across the country. The organization has well-equipped training where officers and employees of the organization as well as representatives of employers and employees attend training courses and seminars. EPFO is under the administrative control of the Ministry of Labor and Employment, Government of India (click here)

The Board administers three schemes - the EPF 1952 Scheme, the 1995 Pension Scheme (EPS) and the 1976 Insurance Scheme (EDLI).