The total number of Provident Fund members in the country is now more than 7 crore. It is being called a historic decision by the Prabhat Kendra. This can also be seen as a historic step for people working in the private sector. From now on, Provident Fund members will be able to withdraw the full amount from their PF account if needed.

The reason behind this decision is to make it easier for employees to access their own money. The Provident Fund department is bringing a big opportunity for all employees.

EPF Pensioners Can Now Submit Digital Life Certificate From Home

To the relief of EPF pensioners, India Post has tied up with Payment Bank. Now, there is no need to go to the bank to submit the Digital Life Certificate (DLC) for EPS-95. The postman will complete this process by visiting your home. There is no need to go to the post office to issue the digital certificate.

For this service, EPFO will bear a cost of Rs. 50. This is a big benefit for senior citizens living in rural or remote areas.

New Withdrawal and Claim Rules

EPF members can now withdraw the full amount in cases of unemployment, natural calamities, medical treatment, or house construction. Earlier, this was allowed only partially.

The earlier rule required employees to work for at least 5 years to withdraw partial money from PF. Now, this has been reduced to just 12 months (one year).

With EPFO 3.0, services are fully automated. You can claim at any time, and the settlement of claims happens much faster.