The Employees Provident Fund Organisation (EPFO), the retirement fund body, as part of the e-governance programme, had permitted the use of e-sign earlier this month. In fact, electroic signature or e-sign has been added to the e-governance agenda to highlight the importance of secure verification. There are guidelines in place explaining the potential legal repercussions of abuse or misuse. Therefore, it is essential for employers to accurately follow the processes prescribed. There are also guidelines in place for handling the Digital Signature Certificates (DSC) and e-Sign.
With the recent guidelines, the verification process has been made simple so that compliance and security can be ensured. Earlier, circulars were issued by the Central PF Commissioner that made it mandatory to use DSCs. It is compulsory for a minimum of one DSC to be registered with the EPFO by an employer or authorised signatory.
The EPFO has extended enhanced life insurance cover under the Employees’ Deposit Linked Insurance (EDLI) scheme. The same was announced by Union Labour Minister Mansukh Mandaviya.
As per the enhancements, EDLI will continue to offer a life cover of up to Rs 7 lakh for more than six crore members of EPFO, with effect from 28 April 2024. This will be beneficial to the families of members—even if they have changed jobs often—in case of their death.
The EDLI scheme is a means of financial support in addition to provident fund contributions and other benefits.
