EPFO 3.0: Union Labor and Employment Minister Mansukh Mandaviya has given a big update about the launch of EPFO mobile app 3.0 and debit card.
EPFO 3.0: There is good news for crores of employed people in the country. Union Labor and Employment Minister Mansukh Mandaviya has said that preparations are underway to provide EPFO mobile application and debit card facility to EPFO subscribers by May-June this year. The Union Minister said that work is currently going on on EPFO 2.0 and the entire IT system is being upgraded, this work will be completed by the end of January. After this, EPFO 3.0 app will come by May-June. EPFO subscribers will get banking facilities through this app. The special thing is that with this the entire system will be centralized and the process of claim settlement will become very easy.
Talks continue between RBI and Finance Ministry
If sources in the Ministry of Labor are to be believed, talks are going on between RBI and Finance Ministry to provide facilities like banks to the subscribers through EPFO 3.0. In such a situation, subscribers will get a debit card and will be able to withdraw EPFO money from ATM.
What will be the withdrawal limit
However, it is not that on getting an ATM card, subscribers will be able to withdraw the entire amount of their contribution, because a limit can be fixed for this. The good thing is that to withdraw this amount, there will be no need to take permission from EPFO as before. This initiative of the government will be of great benefit to EPFO subscribers. Because, they will get relief from the hassle of filling the form to withdraw money and neither will they have to visit the office.
A lot of employment was found in the NDA government
Apart from this, Union Minister Mansukh Mandaviya said that during the tenure of the Modi government from 2014-24, 17.19 crore jobs were given to the people. This figure shows an increase of about 6 times more than the tenure of the UPA government.
The Union Minister said that in the last one year (2023-24) alone, about 4.6 crore jobs have been created in the country. Regarding the agriculture sector, it was said that during the UPA tenure, employment declined by 16 percent between 2004 and 2014, whereas under the NDA tenure, it increased by 19 percent between 2014 and 2023.
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