EPFO 3.0 update: Big News! Now PF money will be withdrawn from ATM only, know when this facility will be available
EPFO 3.0 Updates: Giving information about this on Friday, Union Labor and Employment Minister Mansukh Mandaviya said that the new version of EPFO can start from next month i.e. May-June.
EPFO 3.0 Updates: Employees’ Provident Fund Organization i.e. EPFO is going to make a big change soon, after which it will become easier to withdraw money. Giving information about this on Friday, Union Labor and Employment Minister Mansukh Mandaviya said that the new version of EPFO can start from next month i.e. May-June. After this, more than 9 crore account holders will get the benefit of this update.
The Labor Minister says that the new platform will have the facility of digital correction, auto claim settlement and ATM withdrawal. Along with this, the process will be easy and fast. That is, after that EPFO account holders will neither need to go to the office for the claim nor will have to fill a long form.
EPF 3.0 will provide a lot of convenience
Mandaviya said that with the version of EPFO 3.0, services will become much easier than before and it will be implemented with a strong IT system. In addition to easily viewing pension or withdrawal information, account holders will also have the facility to update their data through OTP verification.
The Union Labor Minister further said that EPFO currently has a fund of Rs 27 lakh crore with ‘government guarantee’ and it pays 8.25 percent interest. The centralized pension payment system already implemented benefits more than 78 lakh pensioners, as it allows them to receive pension in any bank account across the country and the need to maintain accounts in designated regional banks has been eliminated.
Will not have to visit offices
He said that the government is also considering the integration of various social security schemes including Atal Pension Yojana, Pradhan Mantri Jeevan Bima Yojana and Shramik Jan Dhan Yojana to streamline and strengthen pension coverage. To make healthcare accessible to workers, he said that the beneficiaries of Employees State Insurance Corporation (ESIC) will soon be able to get free medical treatment in hospitals listed under Ayushman Bharat Yojana.
In addition, designated private charitable hospitals will also be brought under its purview to expand social security. At present, ESIC provides free medical care to about 18 crore people through 165 hospitals, more than 1,500 dispensaries and about 2,000 listed hospitals.
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