Great news for EPFO beneficiaries - Withdraw PF Directly From ATM
To better serve the nation's enormous workforce, the Labour Ministry is modernizing its IT infrastructure. According to Labour Secretary Sumita Dawra, EPFO subscribers will be able to take their provident money out of ATMs directly starting next year.
"We are aiming to streamline the procedure and expedite the settlement of claims to enhance the quality of life. With little assistance from humans, a claimant, beneficiary, or insured individual will be able to readily access their claims via ATMs, according to the Labour Secretary.
"Systems are changing, and you will see notable advancements every two to three months. By january 2025, I think there will be a significant improvement," she told ANI.
"We are aiming to streamline the procedure and expedite the settlement of claims to enhance the quality of life. With little assistance from humans, a claimant, beneficiary, or insured individual will be able to readily access their claims via ATMs, according to the Labour Secretary.
"Systems are changing, and you will see notable advancements every two to three months. By january 2025, I think there will be a significant improvement," she told ANI.
There are more than 70 million active donors to the Employees' Provident Fund Organization.
The government's attempts to strengthen EPFO services in order to improve living conditions were also emphadata-sized by the Labour Secretary.
Dawra stated that preparations to expand social security benefits to gig workers were advanced, but he would not provide a timeframe.
"A lot of work has been done, and we have outlined a scheme that is now in the finalization process," she stated. Provident money, medical health coverage, and financial assistance in the event of a disability are a few examples of these advantages.
The government's attempts to strengthen EPFO services in order to improve living conditions were also emphadata-sized by the Labour Secretary.
Dawra stated that preparations to expand social security benefits to gig workers were advanced, but he would not provide a timeframe.
"A lot of work has been done, and we have outlined a scheme that is now in the finalization process," she stated. Provident money, medical health coverage, and financial assistance in the event of a disability are a few examples of these advantages.
To provide a framework for offering social security and welfare benefits to gig and platform workers, a group made up of representatives from several stakeholders has been formed.
The first definition of gig and platform workers was in the Code on Social Security, 2020, which was passed by Parliament. The Code contains provisions about their welfare and social security.
The Labour Secretary also spoke about the problem of unemployment, emphasizing that it has decreased.
The unemployment rate was 6% in the year 2017. It has dropped to 3.2% today," she stated.
The first definition of gig and platform workers was in the Code on Social Security, 2020, which was passed by Parliament. The Code contains provisions about their welfare and social security.
The Labour Secretary also spoke about the problem of unemployment, emphasizing that it has decreased.
The unemployment rate was 6% in the year 2017. It has dropped to 3.2% today," she stated.
In addition, our personnel is expanding. "The Worker Participation Ratio, which shows how many people are employed, has reached 58% and is still rising, and the Labour Force Participation Rate is rising," she continued.