The Employees' Provident Fund Organisation (EPFO) supervised by the Ministry of Labour and Employment, Government of India, plays a pivotal role in providing social security to India's organized workforce, with over 69 million contributing members. EPFO not only manages a substantial corpus of over ₹17 lakh crores but also ensures that members and their families have access to essential benefits such as provident funds, pensions and insurance.
* EPFO manages retirement savings for over 69 million members with mandatory 12% contributions from both employees and employers, offering provident fund, pension, and insurance benefits. * EPF provides tax benefits, a universal account number (UAN), transferability across jobs, an 8.25% interest rate, and various withdrawal options for life needs. * Online services via the EPFO portal enhance accessibility, allowing members to check balances, transfer funds, and initiate withdrawals digitally.
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