Employees Provident Fund Organization is the world’s largest social security organization with regard to clientele and the number of financial transactions undertaken. EPFO was established by the act of the parliament of India in order to provide security to the social workers in India. On November 15, 1951, the Employees Provident Funds Ordinance was declared, creating the Employees Provident Fund. The Employees’ Provident Funds Act of 1952 took its place.
The act is now recognized as the Employees Provident Funds & Miscellaneous Provisions Act, 1952. The EPFO is now controlled by the Ministry of Labor and Employment, Govt. of India.
The board has three schemes – The EPF Scheme 1992, Pension Scheme 1995 (EPS 1995), and Insurance Scheme 1976 (EDLI).
Also, See: UAN
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