Dattatreya chairs second round of consultations on EPF Act Amendments
2 April 2015 11:45 PM GMT
Bandaru Dattatreya, Minister of State, Labour and Employment (I/C) recently chaired the second round of tripartite consultations on EPF and MP Act Amendments. The consultations are important in view of amendments proposed in the Act in the backdrop of the Union budget proposals impacting the functioning of Employees' Provident Fund Organisation (EPFO).
Dattatreya dwelt upon major changes being mulled in the proposals. These include bringing down the minimum number of employees required for coverage under the Act from 20 to 10, special provisions for encouraging the functioning of small-scale units, provisions for setting up of multiple Appellate Authorities under the Act, removing ambiguities in the implementation of the Act, ensuring increased clarity in the definitions under the Act-- especially with regard to wages that qualify for deduction for the purposes of the Act, introducing greater transparency and accountability in the enforcement of the Act and providing a choice to workers to join NPS / EPFO. Employers’ associations have welcomed the proposals.
Dattatreya dwelt upon major changes being mulled in the proposals. These include bringing down the minimum number of employees required for coverage under the Act from 20 to 10, special provisions for encouraging the functioning of small-scale units, provisions for setting up of multiple Appellate Authorities under the Act, removing ambiguities in the implementation of the Act, ensuring increased clarity in the definitions under the Act-- especially with regard to wages that qualify for deduction for the purposes of the Act, introducing greater transparency and accountability in the enforcement of the Act and providing a choice to workers to join NPS / EPFO. Employers’ associations have welcomed the proposals.
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