Over six crore people are engaged in construction work. However, provident fund coverage was extended only to 30 lakh people, representing about 5 per cent of the workforce.
To bring the huge chunk of workforce in the country under its net, the Employees' Provident Fund Organisation (EPFO) is debating to launch a unique permanent account number that would act as a reference along with Aadhar, Permanent Account Number and bank account number among others.
Briefing reporters on Friday, Central Provident Fund Commissioner K.K. Jalan said agriculture was the major employment provider in the country, followed by the construction sector.
This sector represented migrant, illiterate and unskilled workers, of which not even 30 lakh were covered by the provident fund scheme. Besides, the organisation covered over 41 lakh workers through its pension scheme and the coverage for construction work was less than 1 lakh.
Mr. Jalan said "A large number of masons and contractors worked for 10 to 15 years, but were not provided with provident fund coverage by their employers. These companies played with crores of rupees, but did not provide social security to their workers. This is one of the most serious economic offence and we are in talks with the Economic Offences Wing (EOW) to include it in their list of economic offences so that defaulting companies face severe consequences."
EPFO plans unique permanent account number
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Company Secretary, Chennai
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