EPFO Plans Universal PF for Self-Employed, Gig and Unorganised Workers

EPFO May Extend PF and Pension Benefits to Self-Employed and Gig Workers Under New Universal Scheme

The government is working on plans to extend provident fund and pension coverage to self-employed individuals, gig workers, and those in the unorganised sector, a move that could bring millions of workers outside traditional salaried employment under a formal social security net for the first time. EPFO May Extend PF and Pension Benefits to Self-Employed and Gig Workers Under New Universal Scheme.

EPFO may extend PF benefits to self-employed, gig workers under universal scheme

EPFO is reportedly working on a voluntary provident fund scheme for self-employed individuals, gig workers and unorganised sector workers. The proposal, still under discussion, could expand retirement savings coverage beyond the organised workforce.

EPFO plans universal PF for self-employed, gig and unorganised workers

If implemented, the proposal could significantly expand India's social security system by giving millions of self-employed individuals and workers in the unorganised sector an opportunity to save for retirement through a trusted and structured provident fund mechanism.

PF for self-employed, workers in unorganised sector on way

Employees Provident Fund Organisation is developing a universal provident fund scheme. This new plan will cover millions in the unorganised sector and self-employed individuals. Subscribers can contribute daily or annually with tax benefits on their savings. The agency is studying global models to finalize the basic framework for this initiative. This self-financing scheme aims to extend retirement savings beyond the current EPFO network.