News: PF makeover may bring down employee outgo

Strategic HR

PF makeover may bring down employee outgo

The Employees' Provident Fund Organisation has proposed sweeping changes in practices that are more than half-a-century old as it looks to widen the social security net by bringing more people into its fold besides encouraging the regularisation of low income, blue-collar workers. It has suggested that the compulsory 12 per cent of salary paid by employees to EPFO be reduced or even waived for a certain period.

The Employees' Provident Fund Organisation has proposed sweeping changes in practices that are more than half-a-century old as it looks to widen the social security net by bringing more people into its fold besides encouraging the regularisation of low income, blue-collar workers. It has suggested that the compulsory 12 per cent of salary paid by employees to EPFO be reduced or even waived for a certain period.

Read the Economic Times news report here.

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Topics: Strategic HR, #National, #Current

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