Which of the following statements about the Employees rsquo Provident Fund Organisation is are corre...........

Indian Polity Statutory Bodies

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Which of the following statements about the Employees’ Provident Fund Organisation is/are correct?

1. It is a statutory body under the administrative control of the Ministry of Commerce and Industry.

2. The recent data released by EPFO has pointed out a decline in net new enrolment numbers under the scheme.

Select the correct answer using the codes given below

1 Only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Second option is correct.

EPFO is a statutory body set up under the Employees’ Provident Fund and Miscellaneous Provisions Act 1952. It is under the administrative control of Ministry of Labour and Employment, Government of India.

The data released recently by the EPFO has revised downwards the number of new enrolment from September 2017 to April 2018. Earlier the EPFO predicted that 44.74 lakh new enrolments were made during September 2017 to April 2018 which it later revised down by 12.4% to 39.2 lakh new enrolments.