With reference to the Employees rsquo Provident Fund Organisation EPFO consider the following statem...........

Economic Affairs Employment related Issues

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With reference to the Employees’ Provident Fund Organisation (EPFO), consider the following statements:

It is under the administrative control of the Union Ministry of Labor and Employment.
In 2014, union government launched Universal Account Number (UAN) for Employees covered by EPFO to enable PF number portability.

Which of the statements given above is/are correct?

1 only

2 only

Both

None

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Explanation:

Employees’ Provident Fund Organisation (EPFO) established in: 1952. It is under the administrative control of the Union Ministry of Labor and Employment. It assists the Central Board of Trustees (CBT) in implementing the following three schemes for the workforce engaged in the organized sector in India: (1) EPF Scheme 1952; (2) Pension scheme 1995 (EPS); and Insurance scheme (EDLI). It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis. In 2014, union government launched Universal Account Number (UAN) for Employees covered by EPFO to enable PF number portability.