We often see no Provident Fund account for unorganized sector especially in construction sector as well as small scale industries. EPFO comes out with a great plan in which it will provide a universal social security number to all the workers in unorganized sector. This number will link to the compulsory provident fund account.
This service will commence from December 2013. This service will bring all the workers of unorganized sector under social security and minimum wage rights.
Any organization or firm employing more than 20 employees will need to implement this rule.
The construction sector in India has the least cover of the social security as around 5% employees have the social security cover. The Employee’s social security number will work like a bank account which will not change in the case of change the job. The new employer need to feed his/her social security number in the system for transferring his/her PF account.
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