Page 68 - Handbook on Convergence of Service

Handbook on C on v er genc e: Ministry of Labour and Emplo ymen t
Handbook on Convergence: Ministry of Labour and Employment

3.7 Employees’ Provident Fund Organisation (EPFO)

EPFO is a Statutory organisation under Ministry of Labour & Employment
and responsible for administration of the Employees Provident Funds and
Miscellaneous Provisions Act, 1952. EPF and MP Act mandates coverage of all
establishments under its scheduled list of establishments/ factories, employing
20 or more persons, wherein, employees earning monthly wages equal to or
less than Rs. 15,000/- (Basic + DA) have to be mandatorily covered. The Schemes
for Provident Fund, Pension and Deposit Linked Insurance are implemented
by the organisation for the benefit of workers covered under the scheme. The
Organisation is also responsible for administration of Employees Pension Scheme,
1995 that came into existence on 16.11.1995.

The benefits admissible under each of the current schemes are as under:

Provident Funds Scheme Pension Scheme Insurance Scheme
• Accumulations • Monthly pension • In the event of
plus interest for members on premature death
upon retirement, superannuation/retirement of a member
resignation, death. disability. while in service
• Partial withdrawals • Monthly pension for an insurance upto
Rs. 7 lakhs is
for specific expenses dependents of deceased payable.
such as house member viz. widow(er),
construction, higher children, parent/nominee. • No premium is
education marriage, charged to EPF
illness etc. members for this
benefit.

Field network consists of 21 Zonal Offices, 139 Regional Offices, 113 District
Offices, 05 SSOs and 04 Service Centres. The field level organisational Chart of
EPFO is given below: -

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