EPFO explores voluntary provident fund framework for gig and self-employed workers
A proposed universal provident fund could extend voluntary retirement savings to platform, gig, self-employed and unorganised workers, with aggregators potentially contributing 1%-2% of annual turnover. The framework remains under development with no rollout date.
EPFO is developing a voluntary universal provident fund for gig workers, platform workers, self-employed people and unorganised-sector workers. The proposal could affect delivery and taxi platforms through broader social-security coverage and aggregator contribution requirements.
Why this matters
The proposal follows EPFO 3.0 signals on extending pension coverage to 25 million gig and construction workers and widening pension obligations for retail and platform employers.
Retail-company signals are accelerating, up +1004700% QoQ.