Full Form of ED | How does ED occur? ED Officer Jobs, Powers, Monthly Salary
Full Form of ED: The full form of ED is Enforcement Directorate. ED is called Enforcement Directorate in Hindi. It is a law enforcement agency established in 1956. It is responsible for implementing certain provisions under the Foreign Exchange Management Act, 1999 FEMA, and the Prevention of Money Laundering Act (PMLA 2002). Its headquarters is in New Delhi, India.
ED enforces economic laws and fights economic crimes in India. It deals with judicial issues and both Acts have appellate provisions and have their own courts and their own appellate tribunals.
The Enforcement Directorate is under the administrative control of the Revenue Department under the Ministry of Finance. It has 10 Zonal Offices headed by Deputy Directors and 11 Sub-Regional Offices headed by Assistant Directors.
What is the full form of ED? (Full Form of ED)
Enforcement Directorate or Directorate of Enforcement (Enforcement Directorate)
What is ED?
The Financial Investigation Agency of India is ED. In case of financial fraud in any part of the country or through a particular person, various officers working under ED initiate an investigation. ED conducted raids at the houses, and offices of the accused and recovered unaccounted money i.e. black money. The various officers under ED are mainly recruited from among officers of IPS, IAS, etc. ranks.
What is the function of ED?
ED mainly works to suppress economic crimes. Other functions performed by ED in India including prevention of crimes like unaccounted foreign assets or money laundering are-
- ED investigates violations of the Foreign Exchange Management (FEMA) Act.
- ED investigates money transactions.
- ED investigates any case involving foreign property or foreign exchange.
- ED has the power to seize the property of those found guilty of violating the FEMA Act
- All inquiries on property purchased in any other country outside India are done through ED.
Headquarters and Offices of ED:
ED has its head office in Delhi. It also has regional offices in five cities in India – Kolkata, Mumbai, Delhi, Chennai, and Chandigarh.
How does ED happen?
- Must have passed graduation from any recognized university.
- The candidate must be an Indian citizen to become an ED.
- The candidate’s age should be between 20-27 years. In terms of age, ST, and SC categories get 5 years of relaxation, and the OBC categories get 3 years of relaxation.
- Candidate must have served in any of the Indian Police Service, Indian Revenue Service, Indian
- Administrative Service, Indian Law (Legal) Service, IPS, IAS, CID, etc.
- To become an ED officer the candidate must be smart, intelligent, and have a special ability to understand people.
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Full Form of ED: Salary Amount:
The monthly salary of an ED officer starts at Rs 60,000. Later the salary increases with the increase in working time and experience.