PF Withdrawal Via ATM: EPFO 3.0 will be launched soon, now you can withdraw PF money from ATM, know when this facility will be available..

The Employees' Provident Fund Organisation is now going to make a big digital change for its more than 9 crore members. Under this, EPFO 3.0 will be launched between May and June 2025. With this new system, PF claims will be settled faster and users will also be able to withdraw PF directly from ATM. This facility will relieve PF members from filling out forms and visiting offices.

Facilities like ATM withdrawal and auto-claim

EPFO 3.0 will have many features that will make PF-related facilities very easy and digital. Such as direct PF withdrawal from ATM, auto-claim settlement, etc.

The process is made easy with OTP-based authentication.

Now there will be no need to fill a long form for PF withdrawal. The process of claims will be processed automatically and money will come to your bank account quickly. Also, users will be able to make changes in their account details, nominees, or other changes through OTP from mobile itself.

There will be a big change for PF members.
According to Union Labor and Employment Minister Mansukh Mandaviya, the new system of EPFO will not only make the work related to PF digital and simple, but it will also save people both time and effort. In the new version, the focus has been on improving the user experience, so that the user can do any process related to PF himself.

EPFO fund of 27 lakh crores, with 8.25% interest
EPFO currently has a fund of about Rs 27 lakh crore and it pays interest of 8.25% every year. In FY 2024-25, EPFO has a collection of Rs 3.41 lakh crore, which has come through more than 1.25 crore e-challans.

Pensioners also benefit
Due to EPFO as well as the Centralized Pension Payment System, now more than 78 lakh pensioners can get a pension in any bank account. Earlier this facility was limited to zonal banks only.

Let us tell you that after the arrival of EPFO 2.01, the number of complaints in EPFO was halved. Now with the arrival of EPFO 3.0, there is a preparation to make these services easier and self-service based.

The government's new initiative to bring all schemes on one platform

Along with this digital upgrade of EPFO, the government is trying to bring social security schemes like Atal Pension Yojana, PM Jeevan Bima Yojana and Shramik Jan Dhan Yojana on a single platform, so that users can get more benefits.

Good news for ESIC and gig workers too

Mansukh Mandaviya also said that now people coming under ESIC will be able to get treatment under the Ayushman Bharat Scheme, which will also include private and charity hospitals. Employee State Insurance Scheme of India (ESIC) is currently providing service to about 18 crore people. Also, gig and platform workers (like food delivery, cab drivers etc.) are also being brought under the ambit of social security.

Recently, the government has signed an MoU with Swiggy, which will list delivery and logistics jobs on the National Career Service portal. This is expected to create about 12 lakh new jobs in 2-3 years.

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