PF Account Holders: EPFO is constantly changing its rules. The organization can take many important decisions for the convenience of the employees. Let us tell you about those 5 big changes, which can happen this year.
PF Account Holders: Employees Provident Fund Organization can make 5 new changes in the year 2025 for the convenience of the employees, which will help the subscribers a lot. Let us tell you which 5 rules can be changed by EPFO to help PF holders, which will benefit the employees.
Facility to withdraw PF funds from ATM
EPFO is planning to give employees the option to withdraw funds 24 hours and 7 days. The organization can provide the facility of withdrawing funds through ATM to PF holders from this year itself. With the implementation of this new rule, PF subscribers will be able to withdraw money from ATM, which currently takes 7 to 10 days.
Change in Employee Contribution Limit
This year the organization can also change the limit of contribution to the fund by the employees. Under EPFO, currently the employee himself deposits 12 percent of the fund and the company deposits the same amount. The government can increase this limit.
IT system upgrade
EPFO is upgrading its IT system this year, so that it is easy for the PF holder to deposit the fund. It is being said that the organization will complete the IT upgrade by June 2025. Along with this, with the upgrade of the system, claims can be settled easily.
Option to invest in equity
The Employees Provident Fund Organization can give the option of investing in equity to the PF holder. With this, PF holders will be able to manage their funds themselves and also get more returns from there.
Ease in pension withdrawal
Under EPFO, the PF fund is known as a retirement fund, from which PF holders get pension after retirement. EPFO is making important changes to make it easier for employees to withdraw pension funds. Now pensioners will be able to withdraw money without any additional banking verification.
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