EPFO 3.0 can be launched in May or June 2025. 9 crore users will get its direct benefit. Let us tell you that your claim will be settled in automation with EPFO 3.0. Also, due to this, you will be able to withdraw your PF amount from ATM.
The Employees Provident Fund Organisation (EPFO) is going to launch its new platform EPFO 3.0 very soon. EPFO 3.0 will have a strong IT platform, which aims to make bank-like services accessible to the members. Union Labor and Employment Minister Mansukh Mandaviya said last month that this new system will be operational between May and June 2025.
The minister has said that EPFO 3.0 will be a reliable platform, which will give many new facilities to more than 9 crore subscribers without any hassle. Such as automation settlement of your claim, correcting mistakes digitally and most importantly, the facility of withdrawing funds directly from the ATM. The biggest advantage will be that now members will be able to withdraw EPF money from ATM like a bank account.
So let us know what new changes are going to happen in EPFO 3.0:
1. PF withdrawal process will be much easier and faster: Now claims will be settled automatically, there will be no need for manual work.
2. ATM Withdrawal: As soon as the claim is approved, you will be able to withdraw your money from an ATM just like a bank account.
3. Digital Correction: You can correct your account details online from the comfort of your home, thus eliminating the hassle of filling forms.
4. Integration of Social Security Schemes: EPFO is now considering to integrate other social security schemes like Atal Pension Yojana and Pradhan Mantri Jeevan Bima Yojana in its system so that workers in unorganised and informal sector can also get better benefits of pension and security.
5. OTP based verification: Instead of long forms, you can now make quick and secure changes using OTP.
ESIC Health Services
The Employees State Insurance Corporation (ESIC) is also upgrading its services. Soon ESIC beneficiaries will be able to avail free treatment in government, private and charitable hospitals under the Ayushman Bharat scheme. Currently, ESIC is providing medical facilities to 18 crore people through 165 hospitals.
