Legal Framework

Legal Framework

Employees Provident Fund (EPF) is established under "Karmachari Sanchaya Kosh Act, 2019" and reports to the Government of Nepal (GoN) through Ministry of Finance (MoF). 

The Board of Directors as governing body of EPF form the top most level in the hierarchy of the organization structure. It is constituted of the following seven members:

• A Chairman appointed by GoN.
• Three Directors nominated by GoN from different government services. 
• Two Directors nominated by GoN from banking, financial and corporate sectors.
• Administrator of EPF (CEO).
• An Officer of EPF appointed by the Board acts as a Secretary of the Board.

All Board Directors except the Administrator is  nominated by GoN  for a period of three years in a single term. They may be re-appointed for one more term.The primary responsibility of the Board is to formulate plans, programs, and policies; and to approve the annual budget, which are executed through the Administrator. The Administrator assumes overall responsibility of managing day-to-day activities of the EPF.

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