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Consider the following statements regarding Employees Provident Fund Organisation (EPFO):
  1. It is a statutory body established under the Employees' Provident Funds and Miscellaneous Act, 1952.
  2. The schemes offered by EPFO cover Indian workers only.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding Employees Provident Fund O...
Implementing a recent Supreme Court order on higher provident fund pensions, the Employees’ Provident Fund Organisation (EPFO) has made a provision in the member’s portal so that retired workers can opt for higher pension.
About Employees Provident Fund Organisation (EPFO):
  • It is a statutory body under the Employees' Provident Funds and Miscellaneous Act, 1952.
  • It is under the administrative control of the Union Ministry of Labor and Employment.
  • Structure of EPFO:
  • The Act and all its schemes are administered by a tripartite board called the Central Board of Trustees.
  • The board comprises representatives of the Government (both Central and State), employers, and employees.
  • The board is chaired by the Union Minister of Labour and Employment, Government of India.
  • The Central Board of Trustees operates 3 schemes:
  • The Employees’ Provident Funds Scheme, 1952 (EPF)
  • The Employees’ Pension Scheme, 1995 (EPS)
  • The Employees’ Deposit Linked Insurance Scheme, 1976 (EDLI)
  • EPFO is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis.
  • Coverage: The schemes offered by EPFO cover Indian workers and international workers (from countries with whom the EPFO has signed bilateral agreements).
Hence only statement 1 is correct.
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Consider the following statements regarding Employees Provident Fund Organisation (EPFO): It is a statutory body established under the Employees Provident Funds and Miscellaneous Act, 1952. The schemes offered by EPFO cover Indian workers only.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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