An employer provident fund organisation (EPFO) is a statutory physique established by the Authorities of India to manage and handle the Provident Fund, Pension Fund, and Insurance coverage Fund for the advantage of the organized sector workers in India. The EPFO was arrange underneath the Workers’ Provident Funds and Miscellaneous Provisions Act, 1952.
The EPFO is liable for administering and investing the Provident Fund, Pension Fund, and Insurance coverage Fund. The Provident Fund is a retirement financial savings scheme for workers, whereas the Pension Fund supplies a month-to-month pension to workers after they retire. The Insurance coverage Fund supplies insurance coverage protection to workers in case of demise or incapacity.
