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The Employees' Provident Fund Organisation (EPFO) is part of India's social security system, ensuring the financial security of employees. Operating under the jurisdiction of the Government of India's Ministry of Labour and Employment, the EPFO is entrusted with the regulation and oversight of provident funds in the nation, in conjunction with the Employees' State Insurance. It was established ...
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Provident fund Provident fund is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment. This differs from pension funds, which have elements of both lump sum as well as monthly pension payments.
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The Central Provident Fund (CPF) is Singapore's national pension fund. It is a defined contribution plan, contributed by employers and employees. With over 3 million members, it ranks among the world’s largest defined contribution (DC) schemes. [12] The CPF Board, a statutory authority established by legislation, runs this national pension fund.
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The primary objectives of Shram Suvidha are: A unified portal for all compliance pertaining to Chief Labour Commissioner of India, Director General Mines and Safety, Employee State Insurance Corporation, and Employee Provident Fund Organization. There are 16 laws that are covered here like Payment of Wages Act, Minimum Wages Act, Contract Labour (Abolition and Regulation) Act. Creation of a ...
Employees' State Insurance Corporation (ESIC) is one of the two main statutory social security bodies under the administrative control of Ministry of Labour and Employment, Government of India, the other being the Employees' Provident Fund Organisation.