The Employees’ Provident Fund (EPF) is a savings scheme introduced under the Employees’ Provident Fund and Miscellaneous Act, 1952. It is managed by the central board of trustees consisting of the government, employer, and employees; it is assisted by The Employees’ Provident Fund Organization. EPFO works under the direct jurisdiction of the government and is managed through the Ministry of Labour and Employment. 
 
ESIC stands for Employee State Insurance Corporation is an autonomous body created by law and is under the control of the Ministry of Labour and Employment, Government of India. It regulates the ESI scheme as per the ESI Act of 1948. ESI scheme is set to cater to the health and insurance needs of the employees and is funded by the employees and the employer.