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The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management. [5]
The EPF is intended to help employees from the private sector save a fraction of their salary in a lifetime banking scheme, to be used primarily as a retirement fund but also in the event that the employee is temporarily or no longer fit to work. The EPF also provides a framework for employers to meet legal and moral obligations to their employees.
Unorganised Workers' Identification Number or UWIN is a proposed unique number to be issued as identity proof to unorganised workers in India. [1] [2] [3]The unorganised workers’ Identification Number is a number provided to the large section of unorganised sector workers by issuing a unique ID and allotting an Aadhaar seeded identification number without issuing any smart cards. [4]
Maintenance and Welfare of Parents and Senior Citizens Act, 2007 is a legislation, initiated by Ministry of Social Justice and Empowerment, Government of India [1] to provide more effective provision for maintenance and welfare of parents and senior citizens. It makes it a legal obligation for children and heirs to provide maintenance to senior ...
The platform aims to simplify the registration process for unorganised workers and connect them to various government welfare schemes, providing seamless access to social security benefits. The initiative integrates data from multiple Central Ministries and schemes, such as the One Nation One Ration Card and Mahatma Gandhi National Rural ...
The same year the present Karmachari Sanchaya Kosh (KSK), or Employees Provident Fund (EPF) in English, was established under the act as an autonomous provident fund organization. After the establishment of EPF, the erstwhile Sainik Drabya Kosh, Nijamati Provident Fund and Provident Fund Department were merged into the EPF. [4]
Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) (English, Prime Minister's Poor welfare scheme) is a scheme launched by the Narendra Modi led Government of India in December 2016 on the lines of the Income declaration scheme, 2016 (IDS) launched earlier in the year.
In 2015, eleven companies received In-principle approval from the Reserve Bank of India to set up Payments Bank under the guidelines for Licensing of Payments Bank. [6]On 11 April 2016, Airtel Payments Bank became the first company to receive the Payments Bank license from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.