Nidhi Aapke Nikat 2.0
Source: PIB
GS II: Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources
Overview
- News in Brief
- Nidhi Aapke Nikat 2.0
- Employees’ Provident Fund Organization
Why in the News?
EPFO is organising its monthly district outreach program Nidhi Aapke Nikat 2.0 in over 670 districts of the country.
News in Brief
- For the ease of EPS’95 pensioners, a special dedicated Pension Helpdesk will be set up wherein various pensioners-centric services viz submission of Digital Life Certificates(DLCs), inquiries PPO handover on the day of retirement under PRAYAS Yojna, etc will be provided.
- A service kiosk will also be set up with a special focus on on-the-spot grievance redressal for employees, employers and pensioners and to share information with stakeholders.
Nidhi Aapke Nikat 2.0
- Employees’ Provident Fund Organization (EPFO) is launched a massive District Outreach programme in all the Districts of the country through a revamped Nidhi Aapke Nikat programme.
- This programme e-launched on 27th January 2023.
- Nidhi Aapke Nikat 2.0 is a grievance redressal platform and information exchange network for employers and employees.
- Also the platform for the exchange of information with the district-level authorities of various State and Central Government departments.
- In this programme, a help desk will be created where members will get online services like filing online claims etc.
- Grievance redressal of the members will be done on the spot and in case any grievance cannot be redressed on the spot, it will be registered on the grievance portal of EPFO and will be resolved on priority.
- Nidhi Aapke Nikat is a programme where EPFO stakeholders come to the EPFO field offices for grievance redressal, under the Nidhi Aapke Nikat 2.0.
- The programme aims to reach out to all the districts in the country on the same day every month.
- The Nidhi Aapke Nikat 2.0 is conducted on the 27th of every month starting from January 2023.
Employees’ Provident Fund Organization
The Employees’ Provident Fund Organization (EPFO) is a statutory body under the Ministry of Labour and Employment, Government of India. It is responsible for managing one of the world’s largest social security schemes, the Employees’ Provident Fund (EPF), which is aimed at providing financial security and stability to employees in the organized sector.
Details of EPFO
- Establishment: EPFO was established in 1952 under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.
- Coverage: It covers employees and employers in organizations where the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 applies.
- Membership: As of recent data, EPFO has over 60 million members and manages a corpus exceeding Rs. 14 lakh crore (approximately $190 billion).
- Contributions: Both the employer and the employee contribute a certain percentage of the employee’s salary towards the EPF scheme every month.
- Interest Rates: EPFO announces interest rates on EPF deposits annually. Over the years, the interest rates have varied, but they are typically higher than those offered by other similar investment avenues.
- Investments: EPFO invests its funds primarily in government securities, public sector bonds, and other low-risk instruments.
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