What is the full form of EPFO?

The full form of EPFO is Employee Provident Fund Organization. It is a statutory organisation created by the Indian government to support the CBT (Central Board of Trustees). The Employees Provident Fund and the Miscellaneous Provision Act of 1952 established it. The Department of Labour & Employment of the Indian government has administrative control over it. It has roughly 122 offices spread out over the nation.

The EPFO is one of India’s largest social security institutions based on the number of applicants and the volume of financial transactions. It aids the Central Board in managing a programme requiring required provident fund contributions. To execute bilateral social security agreements, it also acts as a nodal agency for other countries.

Bref history of EPFO

• Through the Employees ‘ Provident Fund Ordinance came into existence in 1951.
• That was later replaced by the Employees ‘ Provident Fund Act of 1952.
• This case is known as the Employees Provident Funds & Miscellaneous Provisions Act 1952.
• It applies across India, except for the state of Jammu and Kashmir.

Structure of EPFO

• The Additional Central Provident Fund Commissioners oversee the organization’s numerous zones across India.
• Each state requires a minimum of one regional agency headed by a Regional Provident Fund Commissioner, Grade I.
• Regional Provident Fund Commissioners, Grade II, have divided the organisation into various regions.
• Assistant provident commissioners back them.
• To oversee regional institutions and handle complaints, EPFO has also established district offices with a Compliance Officer in most districts.

Services offered by EPFO

In the case of employers

• UAN member e-Sewa for staff
• Provides online UAN status
• Staff’ EPFi Grievance Management system
• Online Transfer Claim Portal for online submission of transfer claims
• COC Request form to save the data on the EPFO portal
• Pension funds’ platform to access data or information relevant to pensions
• Inoperative Accounts help desk support.

In the case of employees

• The establishment’s online registration
• Offers UAN ((Universal Account Number) Information
• Online payment for EPF Subscription
• Online Submission of Challan or ECR Submission
• System of EPFO Grievance Management
• Online Transfer Claim Portal

EPFO-implemented programs

The various programs or schemes implemented by EPFO are:

• Employees’ Pension Scheme
• EPF (Employees’ Provident Fund Scheme)
• EDLI (Employees’ Deposit Linked Insurance Scheme)