Sunday, August 14, 2022

Separate Provident Fund Scheme For Gig Workers Likely, EPFO ​​To Give…

EPFO Update: The Employees’ Provident Fund Organization (EPFO) is going to meet on July 8, in which a decision can be taken to bring a separate Provident Fund scheme for gig workers. Also, in this meeting of EPFO, a decision can also be taken to bring universal pension scheme for those people who are not yet associated with any retirement fund.

social security for gig workers
It is believed that in this meeting of EPFO, discussion will be held regarding PF and pension scheme for gig workers and platform workers. There are currently 77 lakh gig workers in the country who have registered. An internal committee of EPFO ​​has suggested to bring separate PF and pension scheme for gig workers and platform workers. The Committee has also suggested the creation of a new Universal Pension Scheme. In which the minimum pension is Rs 3,000. For which a corpus of Rs 5.4 lakh will be required for services up to 15 years. According to the committee, adding Gig Worker to the existing EPF scheme may cause operational problems. Because only formal workers are made members in EPF. This meeting of EPFO ​​is going to be held in Bangalore which will last for two days.

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Over 23 crore gig workers by 2029-30
According to NITI Aayog, by 2029-30, the number of gig workers in the country will increase from 7.7 million (77 lakh) in the current 2020-21 to 23.5 million (2.35 crore). NITI Aayog has also suggested the government to bring a social security coverage scheme for gig workers and platform workers. Along with this, the industry has also been recommended to give them accident insurance by taking sick leave, health insurance for them.

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who are gig workers
Every business has some non-permanent employees instead of permanent employees. For such work, companies pay their employees on the basis of work. The employees hired on the basis of payment for work are called gig workers. Such employees can also stay associated with the company for a long time. Under Gig Worker, there are contract workers, employees working for online platforms, employees working on call. Employees working as gig workers do not get the benefits of salary, allowances etc. like permanent employees.

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