Economics · Industrial Relations and Labour Laws
Which of the following statements about the Employees' Provident Fund Organisation (EPFO) is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The employer's contribution to the EPF is entirely allocated to the Employee Pension Scheme (EPS).
- 2EPFO is only responsible for employee welfare and does not oversee any financial transactions or management of funds.
- 3EPFO introduced the Universal Account Number (UAN) to link multiple EPF accounts under a single member's name, facilitating better account management.✓
- 4EPFO's primary role is to oversee the implementation of Bilateral Social Security Agreements with foreign countries, and it has no involvement in digital initiatives.
Correct answer
EPFO introduced the Universal Account Number (UAN) to link multiple EPF accounts under a single member's name, facilitating better account management.
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