Question
Which of the following is/are true about the Employees'
Provident Fund Organisation (EPFO) in India? 1)EPFO manages three schemes - the Employees' Provident Fund (EPF), Employees' Pension Scheme (EPS) and Employees' Deposit Linked Insurance Scheme (EDLI). 2)The EPF and EPS schemes are mandatory for all employees working in the organized sector. 3)It is voluntary for the unorganized sector.Solution
The first statement is correct, as the Employees' Provident Fund Organisation (EPFO) in India does manage three schemes - the Employees' Provident Fund (EPF), Employees' Pension Scheme (EPS) and Employees' Deposit Linked Insurance Scheme (EDLI). The second statement is also correct, as the EPF and EPS schemes are indeed mandatory for all employees working in the organized sector in India.
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