PF Withdrawal– EPFO 3.0 is about to come, which will completely change the process of withdrawing money from the PF account. Now employees will be able to withdraw up to Rs 1 lakh in just a few minutes without any hassle. Not only this, many more big changes are being made under EPFO 3.0. The Employees’ Provident Fund Organization (EPFO) is soon going to launch EPFO 3.0, which will make it very easy and fast to withdraw money from the PF i.e. Provident Fund account.
Earlier, to withdraw money from PF, one had to go to the online portal and fill the form, then wait for the money to come to your bank account. This process was very time consuming and tiring. But now under EPFO 3.0, the facilities will become very comfortable. Employees will be able to withdraw money directly from the ATM card or transfer an amount of up to Rs 1 lakh from their PF account instantly through UPI app.
If you change your job while working, till now you had to apply separately to transfer money from your old PF account to the new PF account. This process also took time and sometimes became complicated. But in EPFO 3.0 this work will also be done automatically. Whenever you join a new company, your PF account will automatically be linked to the PF account of the new employer. This will make your money transfer quick without any hassle.
Apps and websites will be even easier
Changes will also be made in EPFO’s website and mobile app so that they become even easier to use. You will be able to check the balance of your PF account, see the status of the claim and use other facilities very easily. That is, technology will be made so simple that anyone will be able to easily get all the information related to their PF instantly.
EPFO 3.0 is not only limited to withdrawing PF money, but there is also a plan to make the pension service of employees digital and transparent. With this, all pension related work will be done online and easily, which will cause less trouble to the employees and they will be able to avail their services quickly.
Till now, there were many problems in linking Aadhaar card or completing KYC. But in EPFO 3.0, the system of digital verification will be so simple that employees will be able to easily link their Aadhaar or other documents online. This change will make online services related to PF more reliable and easy. Also, PF balance will be updated in real time, just like a bank account.
