EPFO New Rule The government may soon launch EPFO 3.0. After this, many facilities related to PF will be better. Till some time ago it was believed that soon PF money will be able to be withdrawn through ATM. Now the Labor Secretary has given an update regarding this. He said that improvements are being made in the IT system. There will be many big changes after its implementation.
Employees Provident Fund Organization (EPFO) may soon bring EPFO 3.0. After this, there will be a change in the rules of EPFO. This change will benefit crores of EPFO members.
Yes, according to media reports that came some time ago, the government is working to facilitate PF withdrawal through ATM. Now a new update has come regarding this. Labor Secretary of the Ministry of Labor and Employment, Sumita Dawra has announced that the government is trying to improve the IT system to provide better service to the workforce.
PF money will be withdrawn from ATM
Sumita Dawra also said that it can be expected that from the year 2025, EPFO members will get the facility to withdraw PF money through ATM. The government is working for this. Regarding the better service of EPFO, she said that we are trying to improve the IT system for PF provision. Even before this, many improvements have been made in the service of EPFO. These improvements include speed in claim and self claim.
EPFO adopting advanced technology
According to the information given by Sumita Dawra, the government is removing unnecessary processes from PF. EPFO is trying its best to create IT infrastructure similar to the banking system. He has expressed hope that from January 2025, changes can be seen in the PF system.
Further, regarding the IT 2.1 version, he said that after its implementation, EPFO members will be able to withdraw PF money from ATM. Apart from this, many more advanced improvements will be seen in the EPFO system.
What is the withdrawal rule of EPFO?
- According to the rules of EPFO, members cannot withdraw completely while working.
- If a person is unemployed for one month, then he can withdraw 75 percent.
- If you are unemployed for two months, you can withdraw the entire amount from the PF Fund.
Related Articles:
Bank FD Rates: These banks are offering 9.5% interest on fixed deposits, check FD details
PAN 2.0 Apply: How can you get a new PAN from the income tax website, check the step by step process
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
