IAS Gyan

Daily News Analysis


2nd November, 2023 Economy

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Picture Courtesy: zeenews.india.com

Context: The Employees' Provident Fund Organization (EPFO) celebrated its 71st Foundation Day with a virtual event held in New Delhi.


  • On the 71st Foundation Day of the Employees' Provident Fund Organisation (EPFO), several dignitaries were present, including the Union Minister for Labour & Employment.

Key Highlights of the Speech of the Union Minister for Labour & Employment

  • He praised the growth of EPFO over the years and its management of the significant savings of its members.
  • He highlighted the 'Nidhi Aapke Nikat' outreach program conducted by every EPFO office at the district level on the 27th of each month.
  • He emphasized the need for EPFO to become a hassle-free and technology-driven organization and expressed satisfaction that EPFO is providing 8.15% interest this year.
  • He laid the Foundation Stone for the Regional Office building in Behrampore, Odisha, and inaugurated the Regional Office building in Tumkur, Karnataka, as well as the new Head Office Building in Kidawai Nagar, New Delhi.
  • Awards were distributed to various offices and establishments, recognizing their outstanding performance and contributions to EPFO's mission.

Must Read Articles:

EPFO: https://www.iasgyan.in/daily-current-affairs/epfo

Employee Pension Scheme: https://www.iasgyan.in/daily-current-affairs/employee-pension-scheme


Q. What are the key components of India's social security system, and how does the government ensure financial protection and welfare for its citizens, especially in terms of healthcare, employment, and retirement benefits?