EPFO, which stands for Employees Provident Fund Organisation, is a part of the Ministry of Labour & Employment in the Government of India.
What is the full form of EPFO?
EPFO stands for Employees’ Provident Fund Organisation. It’s a body set up to help the Central Board of Trustees of the Indian government. Established by the Miscellaneous Provision Act of 1952 & Employees Provident Fund, it operates under the Indian government’s Labour & Employment department. With around 122 offices nationwide, it’s a key social security organization in India, handling a significant number of applications and financial transactions.
EPFO manages a compulsory provident fund contribution scheme, assisting the Central Board in its administration. Additionally, it acts as a central agency for other countries to implement Bilateral Social Security Agreements.
History of EPFO
The Employee’s Provident Fund Ordinance started in 1951 and was replaced by the Employee’s Provident Fund Act in 1952. This is known as the Employees Provident Funds & Miscellaneous Provisions Act of 1952. It’s applicable all over India, except in Jammu and Kashmir.
Structure of EPFO
- The organization in India is split into several zones, each overseen by Additional Central Provident Fund Commissioners.
- For every state, there should be at least one regional agency led by the Regional Provident Fund Commissioner, Grade I.
- These zones are then divided into smaller regions managed by Regional Provident Fund Commissioners, Grade II.
- EPFO has also established district offices in many places, each with a Compliance Officer responsible for overseeing local institutions and addressing complaints.