Operational from November 1, 2025, the scheme offers that employers won't be required to remit the worker's share of contribution if not deducted earlier, and solely nominal penal damages of Rs 100 will apply.
“The scheme seeks to reinforce workforce formalisation and promote ease of doing enterprise,” the ministry of labour and employment stated in a press release issued on the 73rd Basis Day of EPFO.
“EPFO will not be merely a fund. It represents the belief of India's workforce in social safety,” Mandaviya stated, emphasizing that effectivity, transparency, and empathy should stay the driving forces of EPFO's transformation.
“Each reform should attain staff in clear and easy phrases in order that the influence of change is felt straight of their lives,” he stated.
Elaborating on the upcoming EPFO 3.0 platform, central provident fund commissioner Ramesh Krishnamurthi reaffirmed EPFO's dedication to effectivity, transparency, and reform. “The upcoming EPFO 3.0 platform will additional enhance effectivity and accessibility, whereas new initiatives equivalent to simplified withdrawal classes and the Viswas Scheme have eased compliance for employers,” he stated including that EPFO's focus stays on strengthening belief, increasing protection, and guaranteeing that each employee experiences EPFO as a accomplice in progress. EPFO has not too long ago launched companies such because the Centralised Pension Fee System, Aadhaar and face authentication, and the revamped digital challan cum return (ECR) system, geared toward offering seamless, technology-driven service supply to over 70 million of its subscribers.
Highlighting EPFO's central position in implementing the Prime Minister's Viksit Bharat Rozgar Yojana (PMVBRY). Labour secretary Vandana Gurnani stated, “This visionary programme goals to incentivize 3.5 crore new jobs and broaden formal employment throughout sectors.”
