PM Narendra Modi unveils labour reforms; launches Universal Account Number ... - Economic Times

NEW DELHI: Aiming to put an end to the infamous 'inspector raj' culture, Prime Minister Narendra Modi on Thursday unveiled labour reforms in an attempt to boost his 'Make in India' programme.

The new scheme introduces portability for EPF accounts by linking them with bank accounts. There is also a provision for portability of the EPF account of employees through a Universal Account Number (UAN). The UAN is being linked with the bank account, Aadhaar card and other KYC details to facilitate financial inclusion.

A minimum pension has been introduced for the first time so that pension is not less than Rs 1,000 per month. The wage ceiling has been raised from Rs 6,500 to Rs 15,000 per month to ensure vulnerable groups are covered under the EPF scheme.

"Ease of business is important. It is essential for success of 'Make in India'," said Modi. Launching the 'Labour inspection scheme', PM Modi said, "E-governance is effective & economical governance is important for transparency. Inspectors will have to file report in 72 hours now."

Stressing on the importance of labour reforms, Modi said, "We have to see labour issues from the eyes of the Shramik. We can't see it from the eyes of the industrialists." "The power that Satyamev Jayate has, the same power Shramev Jayate has for the development of our nation," he added.

PM Modi dedicated Shram Suvidha portal, Labour Inspection scheme and Portability through Universal Account Number for Employees Provident Fund at an event in Vigyan Bhavan. He also released a booklet of National Brand Ambassadors for Vocational Training and Souvenir for All India Skill Competitions.

As part of the new system, a unique Labour Identification Number ( LIN) will be allotted to factories or industrial units to facilitate online registration. Instead of 16 separate returns, units need to file just one consolidated, self-certified and simplified online return.

Under the programme, the labour ministry is setting up a 'Shram Suvidha', or labour facilitation, portal. The portal will be operated by four central organisations: Chief Labour Commissioner, Directorate General of Mines Safety, Employees' Provident Fund and Employees' State Insurance Corporation.

(With inputs from ET Bureau)

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