The CaF2 based oxyfluoroborosilicate glasses and glass ceramics doped with Er3+ ions were prepared via melt quench process followed by heat treatment and characterized for 1.53 μm broadband applications. The optimized glass ceramic sample was obtained at 450oC/1h heat treatment. The Er3+ concentration was optimized as 1.0 mol% for efficient emission at 460 nm excitation through concentration dependent luminescence analysis. The spectroscopic parameters such as Ωλ=2,4,6 parameters and the radiative parameters such as spontaneous transition probability rates (AR), branching ratios (βR) and decay times (τR) were calculated applying the standard Judd-Ofelt theory. The effective bandwidth (Δλeff), stimulated emission cross-section (σe), gain bandwidth (σe×Δλeff), quantum efficiency (η) and figure of merit (σe×τR) were calculated as 25.78 nm, 13.42×10-21 cm2, 3.46×10-26 cm3, 82.83% and 5.32×10-23 cm2s, respectively for the optimized glass ceramic sample. The exchange type of energy transfer among the excited Er3+ ions results the quenching in luminescence and the non-exponentiality in decay curves. The systematic investigations carried out indicate that the glass ceramic obtained at 450oC/1h heat treatment was proficient for 1.53 μm broadband fiber lasers and optical amplifiers in S and C band communication window.