Employees' Provident Fund Organisation of India | Wikipedia audio article
Channel: wikipedia tts
Date: 2018-12-15

This is an audio version of the Wikipedia Article:
Employees' Provident Fund Organisation of India


00:01:27 1 Origin of the Scheme
00:02:55 2 Provident Fund
00:04:50 3 Appeals
00:05:32 4 Structure
00:07:55 5 Universal Account Number
00:10:43 6 PF Forms
00:10:52 7 Longevity Risk



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SUMMARY
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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.