EPFO - GS questions based on daily current affairs

1)   EPFO is under aegis of -

a. Ministry of Human Resources
b. Ministry of Personnel, Public Grievances and Pensions
c. Ministry Of Finance
d. Ministry of Labour and Employment
Answer  Explanation 

ANSWER: Ministry of Labour and Employment

Explanation:
- The Employees' Provident Fund Organisation is a statutory body of the Government of India under the Ministry of Labour and Employment.
- It administers a compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme.
- The schemes cover Indian workers as well as International workers.
- K.K. Jalan is the Central Provident Fund Commissioner
2)   Which of the following statements is/are correct about EPFO?

1. It is a statutory body.
2. It covers international workers as well with which India has social security pact.

a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation 

ANSWER: Both

Explanation:
- EPFO administers a compulsory contributory Provident Fund Scheme, Pension Scheme and an Insurance Scheme.
- The EPFO's apex decision making body is the Central Board of Trustees (CBT).
- On 1 October 2014, Prime Minister of India Narendra Modi launched universal account number for Employees covered by EPFO to enable PF number portability.
- It has won the National Award on e-Governance 2015-16 for launching the Universal Account Number (UAN).
- The UAN facility enables workers to transfer their provident fund deposits while switching jobs anywhere in India easily.

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