THE SWEAT MONEY
Kashmir Life| October 27-November 02, 2019; THE URDU UMPIRE; Issue 30 Vol 11;
Managers of the Rs 4300 crore Provident Fund of the workers in Jammu and Kashmir’s private and public sector were literally yearning for a change that would help improving social security to its members. Now the takeover of the Fund by the Central EPFO will completely change the systems and take the Fund to the next level, reports Masood Hussain
Masood Hussain
THE SWEAT MONEY

Financial and job security has remained the key element for the people in conflict-ridden and turmoil-hit Jammu and Kashmir to get into the government. State’s location and a small population has always remained a major drawback in creating a vibrant manufacturing sector. Even the best concessions by the government have not been able to reverse the trend.

But Jammu and Kashmir still has an impressive manufacturing sector. In fact the services sector is so vibrant that it has already overtaken the primary and the secondary sectors of the state economy. Despite its small size, the private sector in Jammu and Kashmir still employs more than two-thirds of what the central and the state government’s employ in the soon-to-be Union Territory. But the workers lacked a better social security.

J&K’s Employees Provident Fund Organisation (EPFO) was the sole authority to regulate and implement a number of state and central labour laws. The statutory organization with its officials having quasi-judicial powers was set up in 1961 and operated within the Labour and Employment department. Welfare of entire private sector and the state-owned Public Sector Undertakings (PSU) is solely managed by EPFO.

Officials manning the EPFO said that by the end of October 2017, they had registered more than 16000 establishments for the provident fund collection with a cumulative number of around 511000 workers. It excludes thousands of workers working with various private banks, constructions companies and other multi-national companies, which operate in the state. The EPFO has presence in 11 of state’s 22 districts. Most of the registered workers are from the manufacturing sector, mostly from Jammu, Samba and Kathua. Kashmir has less than 1.5 lakh workers registered with the EPFO.

Bu hikaye Kashmir Life dergisinin October 27-November 02, 2019; THE URDU UMPIRE; Issue 30 Vol 11; sayısından alınmıştır.

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Bu hikaye Kashmir Life dergisinin October 27-November 02, 2019; THE URDU UMPIRE; Issue 30 Vol 11; sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

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