Epfo Found : Year 1952 (India)
Epfo Headquarters : Delhi
Services Provided : Provident Fund, Pension & Insurance Schemes
A Statutory body of Government of India which is under the supervision of Ministry of Labour and Employment. The services offered by this organization are Pension, Provident Fund and Insurance Schemes.
These services provided by the government of India covers Employees of India along with the International Workers. But, to be specific on the international basis, this scheme is valid for the countries where bilateral agreement is signed.
Legal structure : EPFO
Under the Act of 1952, the Employees’ Provident Funds and Miscellaneous Provisions acts is registered.
- The organisation is monitored by Central Board of Trustees, that comprises of The Government Of India, Provincial Governments, Employees and Employers.
- Union labour Of India is the chair person of the board.
- When it comes to reporting duties, The Central Provident Fund Commissioner, the Chief Executive of EPFO report to Union Labour Minister through Permanent Secretary in the Ministry.
- New Delhi is the Headquarters of the organization.
- ‘Directive Principal Of State Policy’ is under Constitution of India, has provided the State with a limited economic capacity that makes effective provision which secures the right to work, public assistance in terms of unemployment and education, sickness or Disablement and old-age and finally undeserved wants.
- With the improvements and amendments made to the acts in 1952, under EPF & MP picked up few features of interventions legally that includes following schemes in the act,
- Employees’ Deposit Linked Insurance Scheme, 1976,
- Employees’ Provision Fund Scheme, 1952
- Employees’ Pension Scheme, 1995 (Family Pension apparently 1971)
A dual role is played by the EPFO to monitor the activities of enforcement agencies to overlook implementations of EPF & MP Act and to be a service provider to the covered beneficiaries all around the country.
As a conclusion the Commissioners of Organization are handed with lots of powers under statute conferring quasi-judicial authorities in look for and to seizure of records. Financial Liability on the employer is assessed, damages levy, defaulter’s attachments & auction of assets, and many more such as arrest, prosecution and civil prison detention.
According to administration
- Organisation is administered to zones headed by Additional Central Provident Fund Commissioner, this for each of political states which are in the country.
- One or more than one Regional officer heads Regional Provident Fund Commissioners (RPFC) according to Grade 1.
- Further Sub-divided as Sub-Regions which is headed by Regional Provident Fund Commissioners in Grade 2.
- For assistance, Provident Fund Commissioners are appointed.
- On the whole the manpower at EPFO currently runs with 20,000 that includes all departments of work.