EPFO 3.0: Employees Provident Fund Organization (EPFO) is going to make big digital changes soon. Labor and Employment Minister Mansukh Mandavia said on Friday that the new version of EPFO could begin by 3.0 May or June. This change will facilitate more than 9 crore account holders across the country.
pension or withdrawal
The minister said that the new platform will provide facilities like auto-calm settlement, digital correction and ATM with fund withdrawal. This will make the process faster and easier. Now there will be no need to fill a long form for the claim or go to office. He informed that the EPFO version 3.0 will be implemented with a strong IT system, making the services more simple and easy. Account holders will be able to update their data through OTP verification and can easily see the information about pension or withdrawal.
With the help of the new system, the claims will deal faster and the amount will reach the account soon.
The minister said that at present, EPFO has a fund of ₹ 27 lakh crore and gets 8.25% interest on it. This fund is completely safe under government guarantee.
Government new initiatives, EPFO services will be easy and easy for pensioners, gig workers and workers
The government has made several important announcements for pensioners, gig workers and workers, which will strengthen social security and government services will become faster and transparent than before.
Now pension will be given in any bank account
Now pensioners will not have to be limited to the accounts of zonal banks only. Under the centralized pension payment system of the government, more than 78 lakh pensioners across the country are getting pension in any bank account. This has improved both convenience and transparency.
All social security schemes will be included on one platform
The government is now considering connecting schemes like Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Shramik Jan Dhan Yojana simultaneously. This will benefit the benefits of the schemes to more people and the scope of social security will increase.
ESIC beneficiaries benefit Ayushman India
Keeping in mind the health of the workers, now people associated with ESIC will also get free treatment in hospitals of Ayushman Bharat Yojana. Also, charitable hospitals will also be added to this scheme. ESIC is currently serving 18 crore people through 165 hospitals, 1,500 dispensaries and 2,000 panel hospitals across the country.
Social security coverage will also increase for gig workers
The government is also working rapidly towards bringing gig and platform workers under social security. Their number is currently 1 crore, which is targeted to double in the next 5 years. In this sequence, the Labor Ministry has partnered with Swiggy on 15 April, under which there will be a listing of Swigy’s jobs on the National Career Service Portal. This will create about 12 lakh job opportunities.
EPFO services will be and better, complaints decreased
After the version 2.01 of EPFO, the number of complaints has been halved. Mandavia said that EPFO 3.0 will make services more simple, faster and reliable. He said that EPFO only