An employer provident fund organisation (EPFO) is a statutory physique established by the Authorities of India to control and handle the Provident Fund, Pension Fund, and Insurance coverage Fund for the good thing about the organized sector staff in India. The EPFO was arrange beneath the Workers’ Provident Funds and Miscellaneous Provisions Act, 1952.
The EPFO is accountable 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 gives a month-to-month pension to staff after they retire. The Insurance coverage Fund gives insurance coverage protection to staff in case of demise or incapacity.