New FLASH SALE Dhamaka - Flat 60% Off on All Courses

    Question

    Consider the following statements about the Employees'

    Provident Fund Organization (EPFO): 1) EPFO only manages the Employees' Provident Fund (EPF) scheme. 2) Employees' Deposit-Linked Insurance (EDLI) scheme is not managed by it. 3) EPFO is a statutory body that comes under the Ministry of Labour and Employment. Which of the above statements is/are correct?
    A 1 only Correct Answer Incorrect Answer
    B 1 and 2 only Correct Answer Incorrect Answer
    C 3 only Correct Answer Incorrect Answer
    D 2 only Correct Answer Incorrect Answer
    E 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    Statement 1 is incorrect as EPFO manages several schemes, including the Employees' Provident Fund (EPF) scheme, the Employees' Pension Scheme (EPS), and the Employees' Deposit-Linked Insurance (EDLI) scheme. Statement 2 is correct as EPFO is a statutory body under the Ministry of Labour and Employment.

    Practice Next