The Employees’ Provident Fund Organization (EPFO) is going to take a big step towards the digital age. The EPFO 3.0 platform, which will be launched in 2025, aims to provide fast, transparent, and easy services to more than 8 crore members. Under this big change, if you need money in an emergency, you will be able to withdraw PF directly from an ATM or UPI, so that you do not have to go through a long and complicated process. Let us understand what four major changes can happen in EPFO 3.0, which will prove to be a digital revolution for the employees.
Withdrawal of PF from the ATM and UPI became easy
This is the biggest and revolutionary change of EPFO 3.0. Under the new system, now employees will be able to withdraw PF amount directly through ATM or UPI by linking their Universal Account Number (UAN) with Aadhaar and bank account. This will allow getting money immediately in an emergency, and there will be no need for long paperwork like before. This step is considered to be a big leap towards making EPFO completely digital and user-friendly.
The claim process will be even simpler
Under the EPFO 3.0 system, the process of claim and correction is being made very easy and transparent. Now members will not have to visit offices for minor mistakes. With the help of OTP verification, you will be able to do the necessary updates and corrections online from home. This change will make the settlement of claims easier, which will directly provide relief to crores of EPF account holders.
Human change for nominee
Another big and human change of EPFO 3.0 is related to death claim settlement. Now, if a member dies and the nominee is a minor at that time, then the guardian will not need to provide a guardian certificate. By simplifying this process, EPFO has ensured that the member’s family can get timely financial assistance without any legal or technical hurdles. This change is a big relief for those families who used to experience delays in getting help due to the long and difficult process.
Mobile-friendly services
Work is being done to make EPFO 3.0 completely mobile-friendly. This means that members will now be able to easily view all the information related to their account on their mobile. Be it a deposit amount, balance, or any claim, everything will be available on mobile. This will eliminate the need to go to the office, and the entire experience will become even simpler and easier.
All these changes will transform EPFO into a modern, user-centric, and efficient organization, which will make the work of millions of employees easier and provide them with financial security.