SCOPE Commends Ministry of Labour & Employment for Progressive EPFO Reforms

Standing Conference of Public Enterprises (SCOPE), the apex body of Public Sector Enterprises (PSEs), has lauded the Ministry of Labour & Employment for rolling out a series of progressive reforms in the Employees’ Provident Fund Organisation (EPFO), designed to improve the Ease of Living for millions of members across India.

The reforms consolidate thirteen complex provisions into three simplified categories, ensuring faster, more transparent, and user-friendly withdrawal processes. Among the key changes are the reduction of the minimum eligible employment period for withdrawals — from up to seven years to just one year — and the facility for members to withdraw up to 75% of their eligible amount at any time without documentation. The option for full withdrawal under special circumstances has also been introduced, marking a major step toward member empowerment and procedural simplicity.

SCOPE also applauded the Ministry’s initiative to extend the premature final settlement period to 12 months — a prudent move to encourage long-term financial security — and the revision of withdrawal benefit rules under the Employees’ Pension Scheme (EPS), promoting continuity and safeguarding future pension benefits.

These citizen-centric reforms strike a thoughtful balance between accessibility and financial prudence, reaffirming the Government’s commitment to inclusive social security and the welfare of India’s workforce.