DIMAPUR: “Most of the people in Nagaland are unaware of EPF and ESI.”
Revealing this at a sensitisation programme on EPF and ESI at the conference hall of the labour commissioner’s office in Kohima on Friday, Nagaland commissioner and secretary of labour and employment department Sushil Kumar Patel said that EPF and ESI are two of the largest security schemes in the country.
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He stressed that sensitisation on the two schemes is necessary to ensure that both employers and employees are aware of their rights, obligations and benefits under these social security schemes.
Patel also said the employers need to understand their legal obligations related to EPF and ESI contributions and provide the necessary infrastructure and systems to comply with the requirements.
“Sensitisation can help them understand the legal provisions, deadlines and procedures involved, which will reduce the likelihood of non-compliance and potential legal issues.”
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He added that sensitisation on EPF and ESI is critical to ensure that all stakeholders involved, including employers and employees, have a clear understanding of these social security schemes.
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He said by increasing awareness, promoting compliance and enhancing the well-being of employees, sensitisation programmes can contribute to a fair, equitable and secure working environment.
Nagaland regional PF commissioner Rohit Singh, who was the resource person, the EPF and ESI are social security schemes provided by the government of India to protect the financial interests of employees.
Singh said the EPF scheme is a mandatory retirement savings scheme applicable to employees in organisations with 20 or more employees.
He said the EPF fund serves as a retirement corpus for employees, which they can withdraw upon retirement, resignation, or termination.
The EPF also provides other benefits such as a pension scheme called the Employees’ Pension Scheme (EPS) and a life insurance scheme named the Employees’ Deposit Linked Insurance Scheme (EDLI), he said.
Singh added that the EPS provides a pension to members who have completed 10 years of service, while the EDLI offers life insurance coverage to EPF members.