EPFO Developing Universal Provident Fund Scheme for Unorganised Sector Workers
The Employees' Provident Fund Organisation is working on a universal provident fund scheme to extend retirement savings coverage to self-employed individuals and workers in the unorganised sector. The proposed plan would allow subscribers to make contributions either daily or annually, with tax benefits attached to their savings. EPFO is currently examining international models to establish a foundational framework for the initiative. The scheme is designed to be self-financing and aims to bring millions outside the existing EPFO network into a formal retirement savings structure.
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