Union Labour Minister Inaugurates EPFO Regional Office at Alwar
The Union Minister for Labour and Employment, Bhupender Yadav, inaugurated the regional office of the Employees’ Provident Fund Organisation (EPFO) in Alwar, Rajasthan. The event was attended by several dignitaries, including the State Minister for Labour and Employment, Tikaram Jully, and the Additional Central Provident Fund Commissioner, Ritesh Kumar.
During the inauguration ceremony, the Minister emphasized the government’s commitment to providing social security to all workers in the country, including those in the unorganized sector. He said that the EPFO is playing a crucial role in this regard by ensuring that every worker has access to pensions, insurance, and medical benefits.
The Alwar office will cover the districts of Alwar, Bharatpur, Dholpur, Karauli, and Sawai Madhopur. It is equipped with modern facilities and will provide hassle-free services to EPFO subscribers in the region. The Minister also praised the EPFO for achieving various milestones, including the issuance of over 12.3 crores Universal Account Numbers (UANs), settling more than 76 lakh claims, and providing benefits to over 6 crore subscribers. He urged the organization to continue its efforts to improve its services and reach out to more workers.
This development is significant for job seekers and employees preparing for government exams such as SSC, UPSC, Banking, and others. It is essential to stay informed about the latest developments in the labour and employment sector as it is a crucial part of the economy.
EPFO Regional Office | Why this News is Important:
Improving the social security of workers in the unorganized sector has been a long-standing challenge for the government. The inauguration of the regional office of EPFO in Alwar is an essential step towards achieving this goal. The EPFO plays a crucial role in ensuring that every worker has access to pensions, insurance, and medical benefits. This development will benefit job seekers and employees preparing for government exams, as it is essential to stay informed about the latest developments in the labour and employment sector as it is a crucial part of the economy.
EPFO Regional Office | Historical Context:
The Employees’ Provident Fund Organisation (EPFO) was established in 1952 under the Employees’ Provident Funds and Miscellaneous Provisions Act. Its primary objective is to provide retirement benefits to employees in the organized sector. The EPFO manages three schemes – the Employees’ Provident Fund (EPF), the Employees’ Pension Scheme (EPS), and the Employees’ Deposit-Linked Insurance Scheme (EDLI).
Over the years, the EPFO has undertaken various measures to improve its services and reach out to more workers. These include the introduction of the Universal Account Number (UAN) and the Online Transfer Claim Portal (OTCP). The EPFO has also expanded its coverage to include workers in the unorganized sector, such as domestic workers, agricultural workers, and construction workers.
Key Takeaways from “Union Labour Minister Inaugurates Regional Office of EPFO at Alwar”:
| Serial Number | Key Takeaway |
|---|---|
| 1. | The Union Minister for Labour and Employment, Bhupender Yadav, inaugurated the regional office of the Employees’ Provident Fund Organisation (EPFO) in Alwar, Rajasthan. |
| 2. | The EPFO plays a crucial role in ensuring that every worker has access to pensions, insurance, and medical benefits. |
| 3. | The Alwar office will cover the districts of Al War, Bharatpur, Dholpur, Karauli, and Sawai Madhopur, and it is equipped with modern facilities and will provide hassle-free services to EPFO subscribers in the region. |
| 4. | The EPFO has achieved various milestones, including the issuance of over 12.3 crores Universal Account Numbers (UANs), settling more than 76 lakh claims, and providing benefits to over 6 crore subscribers. |
| 5. | This development is significant for job seekers and employees preparing for government exams such as SSC, UPSC, Banking, and others. It is essential to stay informed about the latest developments in the labour and employment sector as it is a crucial part of the economy. |
EPFO Regional Office | Conclusion
Overall, the inauguration of the regional office of the EPFO in Alwar is a significant development for workers in the region. It will help improve the social security of workers in the unorganized sector and ensure that every worker has access to pensions, insurance, and medical benefits. Students preparing for government exams should stay informed about the latest developments in the labour and employment sector, as it is an essential part of the economy and a common topic in many exams.
Important FAQs for Students from this News
Q1. What is the EPFO, and what are its functions?
A1. The EPFO stands for Employees’ Provident Fund Organisation, which is a statutory body under the Ministry of Labour and Employment. Its primary function is to manage and administer the provident fund, pension scheme, and insurance scheme for workers in the organized sector in India.
Q2. What is the Universal Account Number (UAN), and why is it important?
A2. The Universal Account Number (UAN) is a unique 12-digit number assigned to every EPFO member. It helps in easy tracking of the EPF contributions of an individual, and it is essential for online access to the EPFO member portal.
Q3. What benefits are provided by the EPFO to its members?
A3. The EPFO provides various benefits to its members, including provident fund, pension, and insurance. Members can withdraw their provident fund after retirement or in case of an emergency. The pension scheme provides a regular income to retired employees, and the insurance scheme provides a financial safety net to members in case of disability or death.
Q4. Who can enrol in the EPF scheme?
A4. Any employee who works for an organization with 20 or more employees is eligible to enrol in the EPF scheme. It is mandatory for both the employee and the employer to contribute to the scheme.
Q5. How does the EPFO ensure the safety of its members’ funds?
A5. The EPFO invests its members’ funds in various safe and secure instruments, including government securities, bonds, and other low-risk investment options. The EPFO also regularly reviews its investment portfolio to ensure the safety of its members’ funds.
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