- Employees’ Provident Fund Organisation (EPFO)
- Ek Bharat Shrestha Bharat
Focus: GS III- Indian Economy
Why in News?
Union Minister for Labour & Employment, Environment, Forest & Climate Change inaugurated the 70th Foundation Day of EPFO held at Dr. Ambedkar International Centre, New Delhi.
About Employees’ Provident Fund Organisation (EPFO)
Nodal: Ministry of Labour & Employment
- It is a government organization that manages provident fund and pension accounts of member employees and implements the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.
- The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 provides for the institution of provident funds for employees in factories and other establishments.
- It is one of the World’s largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken.
Employees Pension Scheme (EPS):
- It is a social security scheme that was launched in 1995. It offers pension on disablement, widow pension, and pension for nominees.
- The scheme, provided by EPFO, makes provisions for pensions for the employees in the organized sector after the retirement at the age of 58 years.
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Focus: GS II- Government policies and Interventions
Why in News?
Prime Minister in the latest edition of Mann Ki Baat, highlights the importance of various festivals, celebrations and sports in uniting people and bringing out the spirit of ‘Ek Bharat Shrestha Bharat’
About Ek Bharat Shreshtha Bharat
- “Ek Bharat Shreshtha Bharat” was announced by Hon’ble Prime Minister on 31st October, 2015 on the occasion of the 140th birth anniversary of Sardar Vallabhbhai Patel.
- Through this innovative measure, the knowledge of the culture, traditions and practices of different States & UTs will lead to an enhanced understanding and bonding between the States, thereby strengthening the unity and integrity of India.
- All States and UTs will be covered under the programme.
- There will be pairing of States/UTs at national level and these pairings will be in effect for one year, or till the next round of pairings.
- The activity will be very useful to link various States and Districts in annual programmes that will connect people through exchanges in areas of culture, tourism, language, education trade etc. and citizens will be able to experience the cultural diversity of a much larger number of States/UTs while realizing that India is one.
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