Companies with 10 employees to come under EPFO
The government is considering a reduction in the ceiling on the number of employees in an establishment eligible to be covered under the Employees’ Provident Fund Organisation (EPFO) from 20 to 10, a move that is expected to bring another 50 lakh employees under the EPF net. In a letter to the labour ministry last week, the EPFO has also recommended that employee, employer and basic wages be redefined under the Employees’ Provident Funds and Miscellaneous Provisions (EPF & MP) Act, 1952. An establishment, under the Act, is currently defined as a factory engaged in any industry in which 20 or more persons are employed.
Read the Economic Times news report here.