.New Delhi, Delhi, India
Finance Minister Nirmala Sitharaman holds a folder case containing the Union Budget 2021-22, during the Budget Session of the Parliament, at Parliament House in New Delhi. (Photo Credit: PTI)

  • The step is aimed at penalising companies that sit on employee contributions
  • Provident fund, a pension fund, is meant to provide employees with lump-sum payments at the time of exit
  • Nirmala Sitharaman also proposed a major push for the pandemic-hit health sector