Employees’ Provident Fund Organization (EPFO) was established on November 15, 1951; which was later replaced by Employees’ Provident Funds Act, 1952. This Act is now referred to as Employees’ Provident Funds & Miscellaneous Provisions (EPF & MP) Act, 1952, which is applicable to whole of India with exemption given only to Jammu & Kashmir. This organization has been formed to assist the Central Board of Trustees (CBT) which is administered by the Ministry of Labour & Employment, Government of India.
EPFO operates the following three schemes:
- The Employees’ Provident Funds Scheme 1952 (EPF)
- The Employees’ Pension Scheme 1995 (EPS)
- The Employees’ Deposit Linked Insurance Scheme 1976 (EDLI)