EPFO Reform: The government gave some relief to the countrymen from inflation by reforming GST, now preparations are underway for another good news before Diwali. The government can give good news to 8 crore people. Actually, after GST reform, preparations are underway for the makeover of Provident Fund i.e. PF. The Employees Provident Fund Organization is preparing for EPFO reform. With this change, people are expected to get facilities like a bank account in their PF account. EPFO 3.0 can be initiated.
An important meeting is going to be held on 10-11 October under the chairmanship of Labor and Employment Minister Mansukh Mandaviya. According to the report of Economic Times, the government can give big relief to about 8 crore EPFO members before Diwali. There can be changes in EPFO. Through this change, EPFO members have to be provided bank-like services.
You can withdraw PF money from ATM-UPI
After the changes in EPFO, the shareholders will start getting the facility of PF withdrawal from ATM, UPI. It is expected that an important decision can also be taken regarding the minimum pension. A proposal can be made to increase the minimum pension from Rs 1,000 per month to Rs 1,500 to Rs 2,500 per month.
Although no official information has been revealed about this, but in view of the long-standing demands, it is expected that the government can give a relief gift to the PF account holders. With the ease of PF withdrawal and increase in pension, people’s consumption will increase. The economy will get the direct benefit of increasing consumption.
Let us tell you that the facility of expected withdrawal is given to the shareholders by the Provident Fund. People get the facility to withdraw money from the PF account for illness, education, marriage and house construction-repair. With the help of online auto claim, you can withdraw money from your PF account as per your need. After the claim settlement, the money will be transferred to the account.