GUWAHATI: Employees’ Provident Fund Organisation (EPFO) subscribers will have the convenience of withdrawing their provident funds directly from ATMs from 2025, according to Labour Secretary Sumita Dawra.
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“We are settling claims quickly and making processes simpler to improve the ease of living. Claimants will be able to access their claims conveniently through ATMs with minimal human intervention,” Dawra said. She added that major upgrades in the system are expected by January 2025, with continuous improvements every few months.
The EPFO, which has over 70 million active contributors, is undergoing significant reforms to streamline its operations. Dawra also highlighted the government’s ongoing efforts to extend social security benefits to gig and platform workers. While the timeline for implementation remains unspecified, the proposed benefits include medical coverage, provident funds, and disability support.
“A lot of work has been done, and the scheme is in its finalisation stage,” Dawra said. A committee comprising various stakeholders has been established to outline a framework for these benefits, following provisions introduced in the Code on Social Security, 2020.
"In 2017, the unemployment rate was six per cent. Today, it has decreased to 3.2 per cent," she said.
"Furthermore, our workforce is growing. The Labour Force Participation Rate is increasing, and the Worker Participation Ratio, which indicates how many people are actually employed, has reached 58 per cent and continues to rise," she added.