EPFO assists the Central Board in administering a compulsory contributory Provident Fund Scheme, a Pension Scheme, and an Insurance Scheme for the workforce engaged in the organized sector in India. It is also the nodal agency for implementing Bilateral Social Security Agreements with other countries on a reciprocal basis. The schemes cover Indian workers as well as International workers (for countries with which bilateral agreements have been signed. As of now 17 Social Security Agreements are operational). It is one of the largest social security organizations in India in terms of the number of covered beneficiaries and the volume of financial transactions undertaken. The EPFO’s apex decision making body is the Central Board of Trustees (CBT).

Provident Fund is one of the primary platforms of savings for working class in India. An Establishment or business is mandatorily required to obtain EIN No. if total employee strength is 20 or more. The total strength of employee Includes contractors or temporary employees like housekeeping staff, daily wage worker security or other temporary workers in the business. Even if a company has employee strength less than 20 then too company can apply EIN. Provident fund Registration certificate should obtain within 30 days from the date of completing 20 employees.