EPFO is biggest organisation in the world to provide social security to people of the country: Bhupender Yadav
Nov 01, 2023Union Minister for Labour and Employment Bhupender Yadav on Wednesday said that the Employment Provident Fund Organisation (EPFO) is the biggest organisation in the world to provide social security to the people of the country. Speaking at the 71st Foundation day virtually in New Delhi, Mr Yadav said that EPFO aims to extend the universal cover and ensure service delivery to its stakeholders through state of art technology.
He said, around 24 crore accounts have been updated with the 8.15 interest rate given by the EPFO. He said that EPFO is now settling the claim within 20 days, which is the biggest achievement of the organization. The Minister of State in the Ministry of Labour and Employment Rameswar Teli, who was also present in the event inaugurated EPFO's Head office in East Kidwai Nagar in New Delhi and Regional office building in Tumkuru Karnataka.
Secretary, Ministry of Labour and Employment Arti Ahuja and Central Provident Fund Commissioner Neelam Shami Rao were also present in the event. Established in 1952, EPFO is one of the largest social security organisations in the world. Currently EPFO provides services to 7.60 lakh contributing establishments. It has 7.10 crore members and 72.23 lakh pensioners.
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