The Employees Provident Fund Organization (EPFO) is soon going to launch EPFO 3.0, which will make PF withdrawal even easier. Now members will be able to withdraw money instantly from their PF account directly through ATM and UPI.
The Employees’ Provident Fund Organization (EPFO) is bringing a new digital platform called EPFO 3.0 for its more than 8 crore members. With this new system, PF related services will now become easier, faster and more transparent. Initially it was to be launched in June, but there has been a slight delay due to technical investigation. Big IT companies like Infosys, Wipro and TCS are working on this project. According to media reports, the launch has been delayed due to investigation, but officials say that this new platform will soon be available to all members. This modern system will make PF services even simpler, faster and reliable in the future.
Withdraw PF money directly from ATM
In this new system, you will be able to withdraw your PF money directly from the ATM. For this, you just have to link your Aadhar card to the bank account and activate the Universal Account Number (UAN). With this, you will now be able to withdraw money from your PF account even without going to the office. EPFO 3.0 will also have the facility to withdraw funds through UPI. Meaning, whenever there is an emergency, you will be able to immediately withdraw money from your PF account through UPI. This will help in quick money needs.
You can update everything online
In EPFO 3.0, the process of online claim and correction of information has also been made completely digital. Now employees will be able to update name, date of birth or other personal details through OTP verification on their mobile. This will not only save time but will also end the hassle of repeatedly checking documents or visiting officials. Along with this, if a PF member dies and his minor children want to claim, then now they will not need a guardian certificate. With this change, the family will be able to get financial help as soon as possible.
You will get all the PF information at a glance
EPFO 3.0 will come with a newly designed digital dashboard, allowing members to easily view their monthly deposits, claim status and complete account information. This is a big step towards transparency and self-reliance.
These important changes are already implemented
Even before the launch of EPFO 3.0, the organization has implemented many important reforms in the last few months. Now KYC verification is done very fast through Aadhar card, so employees do not have to wait long. Also, the facility of correcting name and other personal information online has also been provided, which has reduced the need to go to the office. Transfer of PF account on changing job has also become much faster than before. All these reforms are part of EPFO’s digital revolution, which along with making work easier, is also making employees aware and self-reliant about their PF account.
