Stop the EPFO advantage

Now that the government has got the Pension Fund Regulatory and Development Authority (PFRDA) Bill through the Lok Sabha, and the Rajya Sabha is likely to pass it soon, it is time to look at ending the monopoly of the inefficient Employees Provident Fund Organisation (EPFO) over the hard-earned savings of crores of Indians. It also needs to do this to save its own finances since, in its current form, the EPFO is a ticking time bomb in fiscal terms.

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