The Employees' Provident Fund Organisation (EPFO) has enacted a new standard operating procedure (SOP) that mandates over 1,250 private trusts managing more than ₹3.50 lakh crore (approximately $42 billion USD) in employee savings to provide benefits that are at least equal to those offered by EPFO. This change affects nearly 3.2 million employees. The SOP, approved by the EPFO’s Central Board of Trustees chaired by Labour Minister Mansukh Mandaviya, consolidates existing procedures into a single framework aimed at reducing compliance burdens and promoting ease of living. Non-compliance by private trusts could result in the cancellation of their exemption status. Additionally, the new rules limit the interest rates private trusts can offer to a maximum of 2% above EPFO's rate, addressing concerns over some trusts providing excessively high interest rates of up to 34%. The SOP also includes provisions for an online grievance resolution system integrated with EPFO’s public grievance handling system, enhancing transparency and accountability. This comprehensive approach aims to protect employees' interests while fostering a more efficient regulatory environment.