EPFO 3.0: Employees may receive some good news before Diwali. Until now, withdrawing PF required a lengthy process and documentation, but with the introduction of EPFO 3.0, this task can be completed in minutes using UPI and ATMs.
No online forms will be required. Simply visit an ATM and withdraw your EPF deposits. A new digital platform, called EPFO 3.0, is about to launch, which will completely transform the experience of over 80 million PF subscribers.
This upgrade was originally scheduled to launch in June 2025, but was delayed due to technical issues and testing. It is now expected to launch soon. According to reports, this will be discussed at a meeting chaired by Union Labor and Employment Minister Mansukh Mandaviya on October 10-11.
How to withdraw PF now?
Currently, EPFO members complete claim forms (Forms 31, 19, 10C, and 10D) online or offline to withdraw funds and submit documents along with bank details. Documentation is mandatory for home purchases or medical needs. The offline process requires visiting an EPFO office and submitting the form, which is time-consuming.
How will EPFO 3.0 change the system?
Under the new system, PF accounts will be linked to UPI and ATM networks. This means that members will be able to withdraw a set amount from their PF directly through their UPI apps or bank ATMs. This can be done using Aadhaar-based authentication or a secure PIN. Furthermore, certain limits will be established for fund safety and regulations.
Not just withdrawal, there will be other changes too
EPFO 3.0 will not only be limited to ATM or UPI withdrawals. It will also feature a user-friendly digital interface where employees can easily track their PF balance, contributions, and claim status. It will also make it easier to file PF claims or correct personal details online without having to visit an EPFO office.
