Employees’ Provident Fund Organisation (EPFO) won the Skoch Award for Smart Governance
The Employees’ Provident Fund Organisation (EPFO) has received the SKOCH Award for smart governance for its initiatives on UAN programme and transformation of social security agenda in India.
The SKOCH Award was given to the EPFO after a due process of selection.
The EPFO was also awarded two SKOCH Order-of-Merit, one for launching the UAN for EPFO members and another for transformation of Social Security Agenda in India.
Skoch Smart Governance Award
Skoch Smart Governance Award is an initiative recognising top performing government organisations and organisations working with the government, operating at local, state and national level.
The award is given in the area of Health, Education, Rural Development/Panchayati Raj, Urban Development, Finance, and Security.
The award is given by the Skoch Group, which is a Gurgaon-based think tank dealing with socio-economic issues with a focus on inclusive growth since 1997. The Group was founded by Sameer Kochhar and he is the Chairman of the Group.
He is the author of acclaimed books like Defeating Poverty: Jan Dhan and Beyond (2015); ModiNomics: Inclusive Economics, Inclusive Governance (2014) and Speeding Financial Inclusion (2009).
Employees’ Provident Fund Organisation of India(कर्मचारी भविष्य निधि संगठन)
Founded INDIA(4 March 1952)
Headquarters Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place,
The Employees’ Provident Fund Organisation (abbreviated to EPFO), 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 (for countries with which bilateral agreements have been signed. As of now 14 Social Security Agreements are operational). It is one of the largest social security organisations in India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken. The EPFO’s apex decision making body is the Central Board of Trustees (CBT).
The total assets under management are more than ₹5 lakh crore (US$91 billion) as of 1 May 2013.
On 1 October 2014, Prime Minister of India Narendra Modi launched universal account number for Employees covered by EPFO to enable PF number portability.