EPFO stands for Employees' Provident Fund
EPFO stands for Employees' Provident Fund Organisation. It is a statutory body under the Ministry of Labour & Employment, Government of India. It was established in 1952 to provide social security to the employees in the organized sector. The EPFO administers two schemes, namely: Employees' Provident Fund Scheme (EPS) Employees' Deposit Linked Insurance Scheme (EDLI) The EPS provides for a defined benefit pension to the members on retirement. The EDLI provides for a lump sum death benefit to the nominee of the deceased member. The EPFO has over 6 crore members and manages a corpus of over `15 lakh crore. It has a network of over 130 regional offices and over 13,000 field offices across the country. The EPFO offers a number of services to its members, including: Account opening Contribution Withdrawal Transfer Nomination Pension Death claim The EPFO is a major contributor to the social security of the employees in the organized sector. It has helped to impro