He said that EPFO ​​is preparing for a major digital change to expand services for more than nine crore beneficiaries and its Edition 3.0 will be launched by May or June.

What are the facilities

Mansukh Mandaviya said that in the coming days, EPFO ​​beneficiaries will be able to withdraw funds from ATMs due to faster settlement of claims on the new Edition 3.0. He said that seamless and simplified services including automatic claim settlement, digital reform and ATM-based fund withdrawal will be provided. The aim of this change is to make EPFO ​​accessible and efficient.

The new addition will eliminate the complex and lengthy process of filling up applications or visiting offices for claims and corrections. Beneficiaries will be able to update their EPFO ​​accounts and request and monitor their pension eligibility or withdraw funds using OTP verification. Due to quick settlement of claims, funds will be available in the beneficiary’s bank account very quickly, he said.

27 lakh crore fund

Mandaviya said that EPFO ​​currently has a fund of Rs 27 lakh crore with ‘government guarantee’ and it pays 8.25 percent interest. The centralized pension payment system already implemented benefits more than 78 lakh pensioners, as it allows them to receive pension in any bank account across the country. At the same time, the need to keep accounts in designated regional banks has ended.

The government is also considering integration of various social security schemes, including Atal Pension Yojana, Pradhan Mantri Jeevan Bima Yojana and Shramik Jan Dhan Yojana, to streamline and strengthen pension coverage.

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All work will be done through UAN

Union Minister of Labor and Employment Mansukh Mandaviya said that EPFO ​​3.0 version will come in the coming days, which means that EPFO ​​will become Equivalent Bank. Just like you do transactions in a bank, you deal with the bank. You have a Universal Account Number, all your dealings will be done with it. Just like transactions happen in a bank, EPFO ​​members will be able to do all the work with their UAN.

You can withdraw money from ATM whenever you want

Neither will you have to visit the government EPFO ​​office, nor will you have to go to the employer. The money is yours, you can withdraw it whenever you want. I promise that in the coming days you will be able to go to the ATM and withdraw your money whenever you want. We are doing such reforms in EPFO.

आने वाले दिनों में EPFO 3.O आ रहा है, मेरा वादा है EPFO लाभार्थी ATM से अपना पैसा निकाल पाएंगे…सरकारी दफ्तरों के चक्कर काटने नहीं पड़ेंगे। pic.twitter.com/o6RhkMyvGF

— Dr Mansukh Mandaviya (@mansukhmandviya) March 6, 2025

Continuous improvements are being made in EPFO

The Union Minister said all these things during the inauguration of Telangana Zonal Office and Regional Office of EPFO ​​in Hyderabad. He said that under the leadership of Prime Minister Narendra Modi, changes are coming in EPFO ​​and improvements are being made. Complaints are decreasing and services are increasing. He said that the functioning of EPFO ​​is now becoming people-friendly. Meanwhile, the Union Minister also mentioned many reforms like fund transfer, claim transfer, name correction and pension withdrawal from any bank.

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If you are not yet availing the pension scheme of EPFO, then there is an important news for you. During the budget session of Parliament, Congress MP B Manikkam Tagore and Bharat Rashtra Samithi MP Manne Srinivasa Reddy asked Union Labor and Employment Minister Bhupendra Yadav questions related to the retired employees deprived of the benefits of the EPF pension scheme. Let us know what the Union Labor and Employment Minister Bhupendra Yadav gave in response to the question of the opposition MPs.

EPFO gave opportunity to pensioners for enhanced pension?

In response to this question, Union Labor and Employment Minister Bhupendra Yadav said that yes, yes. On December 29, 2022, the Employees’ Provident Fund Organization (EPFO) issued instructions for inviting online applications from pensioners who retired prior to January 01, 2014 and who have opted for combined options to contribute to the Pension Fund at a salary in excess of the pay limit prior to their retirement. was used. But, their combined options were rejected by EPFO ​​(due to cut-off date). This is in pursuance of the directions of the Supreme Court as contained in Article 44(ix) read with Article 44(v) and (vi) of the judgment dated 04 November 2022 in SLP (Civil) No. 8658-8659 of the year 2019.

EPFO is considering the option of increased pension during the job?

In response to this question, Union Labor and Employment Minister Bhupendra Yadav said that on August 22, 2014, G.S.R. As per the Employees’ Pension (Amendment) Scheme, 2014 notified vide 609(E), with effect from 01 September 2014 only employees drawing salary up to Rs.15,000 per month are entitled to subscribe to the Employees’ Pension Scheme (EPS), 1995.

What is the status of those who retired or employed after September 1, 2014?

In response to this question, Union Labor and Employment Minister Bhupendra Yadav said that those persons who have retired after 1st September 2014 or who are in service and are members of EPS 1995, they can apply for G.S. .Prohibit. are governed by the provisions of the EPS, 1995 as amended vide 609(A).

What is the Supreme Court’s order?

The Supreme Court has directed under Section 142 of the Constitution of India that members of the EPS, 1995, who have exercised the option to contribute on salary in excess of the wage ceiling as required in the proviso to pre-amended Article 11(3) of the EPS, 1995 not exercised shall be entitled to exercise the combined options under clause 11(4) of the post-amended scheme within the extended time period of four months.

Provided further that the remaining requirements as per the amended provision shall be complied with. The Supreme Court directions have legal, financial, actuarial and logistical implications and are being studied.

The post EPF Pension: EPFO ​​gave the benefit of increased pension to retired employees before 2014? Supreme Court’s order first appeared on Rightsofemployees.com.