The Employees' Provident Fund Organization (EPFO) in its order dated 02.06.2023has formed committees to develop draft schemes under the Social Security Code 2020. These committees will focus on creating the Employees' Provident Fund Scheme (EPFS), Employees' Pension Scheme (EPS), and Employees' Deposit Linked Insurance Scheme (EDLIS).
The EPF Scheme 2023 committee will draft the Employees' Provident Fund Scheme, while the EPS 2023 committee and the EDLI Scheme 2023 committee will draft the Employees' Pension Scheme and Employees' Deposit Linked Insurance Scheme, respectively.
The committee members will collaborate to ensure that the schemes align with the Social Security Code 2020. They will have the flexibility to consult internal and external experts for their insights and recommendations during the drafting process.
The objective is to develop comprehensive draft schemes that adhere to the provisions of the Code. The overall coordination of these committees will be supervised by Sh. Chandramauli Chakraborty, ACC(HQ) Legal.