The Labour Ministry of the country is upgrading IT infrastructure to offer better service to the country's vast workers. From next year, according to Union Labour Secretary Sumita Dawra, Employees' Provident Fund Organisation subscribers will be able to withdraw their provident funds right from ATMs.

What Will Change for EPFO Subscribers?

"We are settling claims quickly and are working to make the process easier to improve the ease of living. A claimant, beneficiary, or insured person will be able to access their claims conveniently through ATMs, with minimal human intervention," Dawra said.

She further said that the system is changing fast. "Every two to three months, you will notice significant improvements. I believe there will be a major enhancement by January 2025," she told ANI.

The EPFO presently caters to more than 70 million active subscribers, and this move would further ease the process for the millions of beneficiaries.

Social security for gig workers

Speaking about extending social security benefits to gig and platform workers, Dawra confirmed that progress is at an advanced stage. Though she did not mention a timeline, she said, "A lot of work has been done, and we have outlined a scheme that is now in the finalisation process."

This will include medical coverage, provident funds, and other financial support in case of disability. A committee has been formed, consisting of members from different stakeholders, which will suggest a framework to ensure welfare and security for the gig workers.

For the first time, gig and platform workers were formally defined in the Code on Social Security, 2020, passed by Parliament. The Code includes specific provisions to ensure social security for this growing workforce.

Addressing the unemployment issue, the Labour Secretary shared encouraging statistics.  "In 2017, the unemployment rate was six percent. Today, it has decreased to 3.2 per cent," she said.

According to her, the labor force participation rate is increasing as is the Worker Participation Ratio.  "Our workforce is growing, and the Worker Participation Ratio, which indicates how many people are actually employed, has reached 58 percent and continues to rise," Dawra explained.