Employee Provident Fund Organization
EPFO or The Employees Provident Fund Organization is an association which assists the Central Board of Trustees, a legal body formed by the former employees Provident Fund and the MP Act, 1952. It is under the control of Labour and Employment Department, GOI.
The main work of the EPFO is to assist the Central Board in directing an essential part of the provident fund scheme, an annuity scheme and also the insurance scheme for the people engaged in the planned sector in the country. It is also a small agency, for implementing the mutual society security treaties with different countries on an exchange basis. The scheme covers up the Indian as well as the foreign workers.
Structure of the EPFO
The EPFO has two-tier structures for implementing the rules regarding the Provident Fund. The agency to look upon the EPF and the MP act and also is a service provider to cover the beneficiaries for all over the country.
The act is ruled by the central government-nominated board of trustees, and the EPF, a constitutional committee. The CBT as it is called unofficially, consists of one Chairperson, the Vice Chairman, 5 Central Government Representatives, 15 state Government representatives and ten employee representatives and also ten employer representative along with one Central PF representative and even the member administrator of the board.
The central board selects the officers of the constitution in the position of the cadre of administrators under the section of 5D for the efficient implementation of various acts and administration of the multiple structures. Up to this point, the administrators of the constitution are bestowed with extensive administrative powers under the command of a quasi-judicial specialist for making the financial assessment on the respected employer. The board also has the ability to search and seize the records, levying the damages, auction the defaulter’s property, legally capture and arrest, imprisonment of the defaulters, etc.
The administrative power of the organization has been divided into several zones. The Central PF Commissioner administers these zones. Presently, there are total 10 zones in all over the country. The states have one or many regional offices which are managed by the PF commissioners, and most of them are again sub-divided into various sub-regions. These are administered by the PF commissioner of Grade II rank. The PF commissioners Grade assists them I rank who implements the act and multiple schemes associated with it. The commissioning cadre is among the numbering 815 are directly taken.
The commissioners are employed through the Union Public Service Commission exam as well as every officer for the EPFO and all of them from the bottom to the top of the organization is selected from merit. Officers who are lower than the rank of commissioner.
