Employees' Provident Fund organisation , EPFO has launched a special drive to encourage EPF members to consolidate their multiple accounts.
- The members whose accounts are scattered face many inconveniences such as approaching multiple employers located at multiple locations for settlement of claims.
- The initiative of launching the Mission consolidation One Member One EPF Account is a step towards encouraging EPF members to access enhanced IT enabled services through Universal Account Number that are linked with Aadhaar.
- This drive will result in EPF members having just one EPF account and multiple conveniences. The success of this drive will not only reduce the burden of members but would also result in ease of work for EPF employees.
Employees' Provident Fund Organisation :
- The Employees' Provident Fund Organisation (EPFO), is a statutory body of the Government of India under the Ministry of Labour and Employment.
- It administers a compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme.
- It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis.
- The schemes cover Indian workers as well as International workers (for countries with which bilateral agreements have been signed. As of now 15 Social Security Agreements are operational).
- It is one of the largest social security organisations in India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken.
- The EPFO's apex decision making body is the Central Board of Trustees (CBT)
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