Notably, the EPFO is looking to align itself with international benchmarks, a top government official told ET, adding that a detailed roadmap has been drawn up for the next two-and-a-half decades to enable it to become a global social security provider, the official added. The official told ET, “by 2037, EPFO aims to have a strong presence and service centres in Asia-Pacific followed by consultancy offices in Latin America and Africa."
The official further noted that the idea is to help smaller countries to develop their own social security for their workers, much on the lines of the Indian social security system, which has been successfully established over the last 70 years.
In addition, the report informed that EPFO will set up specialised pillars for each functional area with convergence at the top level to ensure macro level synchronisation of policy vision, while working towards transitioning itself to a leaner and flatter organisation and rope in subject experts from outside including global experts as it opens up to lateral hiring to help build up a globally-benchmarked expert system.
Meanwhile, just last month, Prime Minister Narendra Modi said the Employees' Provident Fund Organisation (EPFO) has played a crucial role in providing financial security to the labour force in India. "e-Shram portal is another example of how India is working towards strengthening the unorganised sector. Those working in fields such as construction are now getting benefits of government schemes," added PM Modi.
While addressing the National Labour Conference of Labour Ministers of all states and union territories via video conferencing, PM Modi said, "India's labour force has a huge role to play in realizing our dreams and aspirations to build a developed India. With this thought, the country is working continuously for crores of workers working in organized and unorganized sector."
(With inputs from The Economic Times, ANI)
