Features of EPFO
- This is one of the biggest world social security organizations in India.
- At the start, it used to focus mainly on the rules and regulations of the Operational processes of EPFO.
- But the transparency, accountability, effectiveness, and efficiency. were weak.
- It used to maintain around 150 million employees’ accounts.
- This scheme allows employees to save funds every month and this amount will be after your retirement, death, or any other accidents that happen to you.
- National banks and their branches are used to help manage and provide the support for collection of funds from member organizations and maintain the accounts of individual employees.
- The EDLI scheme offers economic protection to employees if any accidents happen to them during their employment.
EPFO Full Form – Employees’ Provident Fund Organization
EPFO Full Form: EPFO (Employees’ Provident Fund Organization) is a scheme that was started by the government in 1952 To provide the same facility for workers, employees, etc. As we know for private workers no pension is provided by the company once they pass 60 years according to the rule of government. So many of them have to face a lot of financial problems such as an Accident, marriage of our children or any disease got and so on.
EPFO provides social security and retirement benefits to the employees and helps them to live comfortably after their retirement. In this article, we will discuss EPFO full form, its definition, features, history, advantages, and how EPFO works.
Table of Content
- What is the Full Form of EPFO?
- What is EPFO?
- Features of EPFO
- History of EPFO
- How does EPFO work?
- Services offered by EPFO
- Advantages of EPFO
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