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EPFO, the organization that controls EPF (Employee Provident Fund), has given a big gift to all its beneficiaries. EPFO 3.0 is going to start next month i.e. from June. Under this, many changes are going to be made in the rules related to EPFO. The aim of EPFO 3.0 is to make all the benefits and services convenient.
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Let’s know what changes are going to happen related to EPFO.
Changes under EPFO 3.0
- EPFO is going to launch EPFO 3.0 digital platform this month. Under this, there is a plan to improve the facilities provided by EPFO.
- According to this change, all beneficiaries will be able to withdraw money received under PF through ATM.
- You will now be able to get all the information about your account from home. Which means you don’t need to go to the offices. Nor will you have to wait in line for the process from getting the form to submitting it.
- You will be able to receive PF money not only through ATM but also through UPI (Unified Payment Interface).
- This service may also be launched for both GPF (General Provident Fund) and PPF (Public Provident Fund) in the future.
- Under EPFO 3.0, all beneficiaries will be able to update their UAN number, name, date of birth, etc. online. You will not need any other documents to update all these details.
- Now pensioners will be able to withdraw their pension amount from any bank in the country.
- Along with this, the need to upload photos of bank passbooks and checkbooks will also be eliminated now.
- If a person changes jobs or transfers PF, then the employer will not be required for this.
After the advent of EPFO 3.0, the services provided under EPFO will become more convenient. Many tasks will start being done in an automated manner instead of manually.
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