Advantages of EPFO
- It used to provide the convenience for our employees to deal with any uncertain problem such as medical illness, Accidents, etc.
- The main objective of EPFO is to provide social security to industrial employees who are economically vulnerable.
- THE no. of users in this scheme was 45 million from 2017 to 2018.
- The no. of offices it established from 2017 to 2018 was 533,298. This was the biggest achievement for EPFO.
- These schemes basically help the employees for saving some part of their income which is used to return in retirement, in case of death or accidents, etc.
- This EPFO account was the meaning is that if any employee wants to transfer their account from one employee to another.
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EPFO Full Form – Employees’ Provident Fund Organization
EPFO Full Form: EPFO (Employees’ Provident Fund Organization) is a scheme that was started by the government in 1952 To provide the same facility for workers, employees, etc. As we know for private workers no pension is provided by the company once they pass 60 years according to the rule of government. So many of them have to face a lot of financial problems such as an Accident, marriage of our children or any disease got and so on.
EPFO provides social security and retirement benefits to the employees and helps them to live comfortably after their retirement. In this article, we will discuss EPFO full form, its definition, features, history, advantages, and how EPFO works.
Table of Content
- What is the Full Form of EPFO?
- What is EPFO?
- Features of EPFO
- History of EPFO
- How does EPFO work?
- Services offered by EPFO
- Advantages of EPFO