Unorganized workers will get provident fund accounts

EPFO will come out with one of its most remarkable plans in December to provide a universal social security number to all workers in the unorganized sector.

Unorganized workers will get provident fund accounts
CHENNAI: The Employees Provident Fund Organisation will come out with one of its most remarkable plans in December to provide a universal social security number to all workers in the unorganized sector. This will be linked to a compulsory PF account.


Central PF commissioner K K Jalan said the service would bring social security and minimum wage rights to all workers. Anyone employing more than 20 employees will have to implement this.

The employee's social security number works like a bank account. When he moves to work at a new place, his new employer will have to feed in his number into the system, transferring his PF account. The construction sector in India has six crore workers, but only less than 30 lakh of them have social security cover.

Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › Wealth › Personal Finance News › Unorganized workers will get provident fund accounts
Text Size:AAA
Success
This article has been saved

*

+