Private players likely to help run EPFO and ESIC schemes

oxyadmin
Education, Information, jobs, Learn, Skill May 14, 2018 0

Labour ministry is planning to move to a public-private-partnership mode to run and administer its flagship provident fund and medical insurance schemes that it wants to make universal. The ministry reckons that private intermediaries would be needed as the schemes are scaled up to 10 times to about 50 crore workers, from its current coverage.

These schemes are at present run by the Employees Provident Fund Organisation (EPFO) and the Employee State Insurance Corporation (ESIC). A senio ..

The proposed intermediate agencies will work on behalf of the state social security boards and would work in areas of fund management, point of presence, service delivery, benefit disbursement, record keeping and facilitation for enabling the PPP system in administering social security.

“This will help us expand the service delivery net to cater to the broad base of subscribers who are not just very large in numbers but are also very heterogeneous in their characteristics, including geographical spread, access to information, and ability to participate in this right-based system,” the senior government official said.

“Moreover, this provision will allow us to engage expertise for specialised yet non-core activities related to administration of provisions of social security code,” the official explained.