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

Employees' Provident Fund Organisation is developing a universal provident fund scheme for self-employed, gig workers, and unorganised sector workers.

Subscribers can contribute daily or annually, with the corpus earning annual interest and tax benefits similar to EPFO.

The withdrawal phase will allow subscribers to retain the corpus with EPFO at retirement or choose a systematic withdrawal plan.

The scheme is self-financing, with no government contribution, unlike PM Shram Yogi Maandhan Yojana.

EPFO has floated a tender for an IT architecture, and implementation follows new labour codes mandating platform worker registration.