PIB Summary- 2nd November, 2022 | PIB (Press Information Bureau) Summary - UPSC PDF Download

Employees’ Provident Fund Organisation (EPFO)

Why in News?
Union Minister for Labour & Employment, Environment, Forest & Climate Change inaugurated the 70th Foundation Day of EPFO held at Dr. Ambedkar International Centre, New Delhi.

About Employees’ Provident Fund Organisation (EPFO)

• It is a government organization that manages provident fund and pension accounts of member employees and implements the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.
• The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 provides for the institution of provident funds for employees in factories and other establishments.
• It is one of the World’s largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken.

Employees Pension Scheme (EPS)

• It is a social security scheme that was launched in 1995. It offers pension on disablement, widow pension, and pension for nominees.
• The scheme, provided by EPFO, makes provisions for pensions for the employees in the organized sector after the retirement at the age of 58 years.

Main features

• Employees who are members of EPF automatically become members of EPS.
• Both employer and employee contribute 12% of employee’s monthly salary (basic wages plus dearness allowance) to the Employees’ Provident Fund (EPF) scheme.
• EPF scheme is mandatory for employees who draw a basic wage of Rs. 15,000 per month.
• Of the employer’s share of 12 %, 8.33 % is diverted towards the EPS.
• Central Govt. also contributes 1.16% of employees’ monthly salary.
• Maximum service for the calculation of service is 35 years.
• No pensioner can receive more than one EPF Pension.

Ek Bharat Shrestha Bharat

Why in News?
Prime Minister in the latest edition of Mann Ki Baat, highlights the importance of various festivals, celebrations and sports in uniting people and bringing out the spirit of ‘Ek Bharat Shrestha Bharat’.

About Ek Bharat Shreshtha Bharat

• “Ek Bharat Shreshtha Bharat” was announced by Hon’ble Prime Minister on 31st October, 2015 on the occasion of the 140th birth anniversary of Sardar Vallabhbhai Patel.
• Through this innovative measure, the knowledge of the culture, traditions and practices of different States & UTs will lead to an enhanced understanding and bonding between the States, thereby strengthening the unity and integrity of India.
• All States and UTs will be covered under the programme.
• There will be pairing of States/UTs at national level and these pairings will be in effect for one year, or till the next round of pairings. 
•  The activity will be very useful to link various States and Districts in annual programmes that will connect people through exchanges in areas of culture, tourism, language, education trade etc. and citizens will be able to experience the cultural diversity of a much larger number of States/UTs while realizing that India is one.

Objectives

• To CELEBRATE the Unity in Diversity of our Nation and to maintain and strengthen the fabric of traditionally existing emotional bonds between the people of our Country;
• To PROMOTE the spirit of national integration through a deep and structured engagement between all Indian States and Union Territories through a year-long planned engagement between States;
• To SHOWCASE the rich heritage and culture, customs and traditions of either State for enabling people to understand and appreciate the diversity that is India, thus fostering a sense of common identity;
• TO ESTABLISH long-term engagements and
• TO CREATE an environment which promotes learning between States by sharing best practices and experiences.