EPF, EPS, EDLI & EPFO
Labour Laws · EPF, EPS, EDLI और EPFO
📋Quick Overview
EPFO (Employees' Provident Fund Organisation) is a statutory body under the Ministry of Labour & Employment. It was established in 1952 under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. EPFO manages three social security schemes — EPF, EPS, and EDLI — and is the third largest social security organisation globally with 6 crore+ active members.
EPF Act applies to establishments with 20 or more employees. EPFO is headed by the Central PF Commissioner, and the Central Board of Trustees is chaired by the Union Labour Minister.
📖Three Schemes Under EPFO
| Scheme | Full Form | Contribution | Key Benefit |
|---|---|---|---|
| EPF | Employees' Provident Fund | Employee 12% + Employer 3.67% | Retirement corpus, ~8.25% interest p.a. |
| EPS | Employees' Pension Scheme | Employer 8.33% + Govt 1.16% | Pension after 10 yrs service + age 58 |
| EDLI | Employees' Deposit Linked Insurance | Employer 0.5% premium | Life insurance up to ₹7 lakh |
Employer's total 12% contribution is split: 3.67% goes to EPF account and 8.33% goes to EPS. The government additionally contributes 1.16% to EPS as subsidy. The EPF interest rate is announced annually; it was approximately 8.25% per annum in recent years.
📝UAN and Key Features
- •UAN (Universal Account Number): Portable 12-digit number assigned to each EPF member, remains same across jobs
- •Applicability: Establishments with 20+ employees; voluntary registration also possible for smaller units
- •EPF withdrawal: Full withdrawal on retirement (age 55+) or after 2 months of unemployment; partial withdrawal for house purchase, medical, marriage
- •EPS eligibility: Minimum 10 years of service for monthly pension; family pension payable on member's death
- •EDLI claim: Maximum ₹7 lakh insurance cover to nominees on member's death while in service
- •Exempted establishments: Large firms like RPF, Coal Mines etc. can manage their own PF trusts if benefits are equal or better
- •EPFO online services: UAN activation, e-KYC, claim filing, passbook access, transfer through OTCP portal