New pension platform to ease payouts: Minister
4 months, 2 weeks ago

New pension platform to ease payouts: Minister

Hindustan Times  

The labour ministry will switch to a centralised pension-payment system from 2025, allowing retirees to receive monthly payouts from any bank or its branches in any location throughout the country, for which a large-scale test run was recently carried out. Mansukh Mandaviya The new platform for subscribers of the Employees’ Provident Fund Organisation, the state-run retirement fund manager, is aimed at cutting down paperwork and enabling quicker processing, labour minister Mansukh Mandaviya said on Monday. The tech-based system will eliminate the need to move payment orders physically from one bank or location to another in case beneficiaries change their banks or place of residence, the minister said. The move will cover nearly 7.8 million subscribers of the Employees’ Pension Scheme 1995, a “defined contribution, defined benefit” financial-security plan applicable for all employees with a wage ceiling of ₹15,000 a month. Once the centralised platform is rolled out, fresh retirees will not be required to visit an assigned bank’s branch for verification to set up their pension accounts, enabling quicker payment transfers.

Pension System Epfo  minister  centralised  run  banks  subscribers  epfo  retirees  platform  quicker  pension  system  employees  payouts  ease

History of this topic

Pensioners may soon be able to make EPFO claims via UPI: Labour secretary
Trending News
3 days, 7 hours ago

Pensioners may soon be able to make EPFO claims via UPI: Labour secretary

Hindustan Times  

The Employees' Provident Fund Organisation is set to integrate Unified Payments Interface to reduce transaction times and increase convenience. Under the Provident Funds and Miscellaneous Provisions Act, an employer and worker both are required to contribute 12% of a person’s basic salary towards a retirement-benefits corpus managed by the EPFO “Our next step is to incorporate UPI into the system," …

Unified Pension Scheme (UPS) notified for govt employees: Eligibility, what’s new
5 days ago

Unified Pension Scheme (UPS) notified for govt employees: Eligibility, what’s new

Hindustan Times  

The Pension Fund Regulatory Authority of India has notified that the Unified Pension Scheme for central government employees will become operational from April 1, 2025. The UPS promises to give government employees an assured pension of 50% of their average basic pay drawn over the past 12 months, prior to superannuation. This means that central government employees in service as …

Unified Pension Scheme: Who can join and how much to contribute
1 week, 1 day ago

Unified Pension Scheme: Who can join and how much to contribute

India Today  

The Pension Fund Regulatory and Development Authority has announced new rules for the Unified Pension Scheme, which will be effective from April 1, 2025. The said rules, called “Pension Fund Regulatory and Development Authority Regulations, 2025” have been notified on March 19, 2025. This scheme will be available as an option for central government employees who are currently under the …

UPS: PFRDA notifies assured pension scheme for government employees
1 week, 1 day ago

UPS: PFRDA notifies assured pension scheme for government employees

The Hindu  

The Pension Fund Regulatory and Development Authority on Thursday notified the operationalisation of the Unified Pension Scheme which promises an assured pension of 50% of the average basic pay drawn over the last 12 months prior to superannuation. This follows the UPS notification dated January 24, by the government for Central government employees covered under the National Pension System. These …

EPFO speeds up claim processing, 60% settled via automated system
1 week, 2 days ago

EPFO speeds up claim processing, 60% settled via automated system

India Today  

The Employees' Provident Fund Organisation has made considerable progress in clearing advance claims, with 60% of advance withdrawal claims being settled through an automated payment system. This has resulted in the settlement of 2.16 crore claims in the current financial year, a massive increase from 89.52 lakh claims processed in the previous year. Besides, over 99% of claims are being …

EPFO announces new rules for EDLI Scheme: 3 key death benefits updates
2 weeks, 5 days ago

EPFO announces new rules for EDLI Scheme: 3 key death benefits updates

India Today  

The Employees' Provident Fund Organisation, in its 237th meeting f the Central Board of Trustees, announced important changes to the Employees' Deposit Linked Insurance scheme. 3 KEY CHANGES IN EDLI SCHEME Minimum insurance benefit: As per the announcement, if an employee dies within their first year of service, their family will receive a minimum insurance amount of Rs 50,000. “Now, …

No more long queues! 5 reasons why EPFO 3.0 will transform your retirement plans
Trending News
3 weeks, 1 day ago

No more long queues! 5 reasons why EPFO 3.0 will transform your retirement plans

Live Mint  

Long queues, time-consuming documentation, rejections in requests, and constant delays, these are typically the images that come to mind when one considers taking advantage of your Employees' Provident Fund corpus in India. Union Labour Minister Mansukh Mandaviya made the announcement of the imminent arrival of EPFO 3.0, a revolutionary overhaul that will introduce banking-like convenience to EPFO subscribers in millions. …

What is EPFO 3.0? 5 key things you can expect
Top News
3 weeks, 1 day ago

What is EPFO 3.0? 5 key things you can expect

India Today  

Union Labour Minister Mansukh Mandaviya has announced that the Employees' Provident Fund Organisation is set to roll out its latest version, EPFO 3.0, an upgraded system designed to make fund management more convenient for subscribers. While inaugurating EPFO's Telangana zonal office and regional office in Hyderabad, Mandaviya mentioned that the upgraded system will bring EPFO’s services closer to a banking …

Mansukh Mandaviya inaugurates new EPFO office in Hyderabad
3 weeks, 1 day ago

Mansukh Mandaviya inaugurates new EPFO office in Hyderabad

The Hindu  

The new building of the Employees’ Provident Fund Organisation Regional Office was inaugurated at Begumpet on Thursday by Union Minister for Labour and Employment Mansukh Mandaviya. Union Minister G. Kishan Reddy highlighted the administrative changes following the bifurcation of Telangana and Andhra Pradesh, stating that EPFO offices for both states have now been separated. Addressing concerns raised by Medak MP …

EPFO 3.0 will rollout soon, subscribers can withdraw funds from ATM: Union Minister
3 weeks, 2 days ago

EPFO 3.0 will rollout soon, subscribers can withdraw funds from ATM: Union Minister

India TV News  

EPFO 3.0 will rollout soon, subscribers can withdraw funds from ATM: Union Minister The services of EPFO 3.0 will allow an employee to carry out all transactions that are done in a bank. The Employees Provident Fund Organisation will soon launch the EPFO 3.0 version, which will allow subscribers to withdraw funds from ATMs, along with several other new features, …

EPFO claims huge liability to pay off higher pension demands, workers, pensioners object
3 weeks, 5 days ago

EPFO claims huge liability to pay off higher pension demands, workers, pensioners object

The Hindu  

The Employees Provident Fund Organisation fears that it may have to spend ₹1,86,920 crore to pay just 50% of the total applicants for a higher pension. It said interim actuarial evaluations will continue for every 50,000 demand letters issued to the Employees Pension Scheme subscribers who had submitted joint options with their employers. “Evaluation of sample data of around 38,000 …

EPFO keeps interest rates on PF unchanged at 8.25%
1 month ago

EPFO keeps interest rates on PF unchanged at 8.25%

Hindustan Times  

New Delhi: The Employees’ Provident Fund Organisation, the state-run retirement fund manager, has decided to maintain the interest rate on provident-fund deposits for 2024-25 at 8.25%, keeping the widely watched metric of middle-class savings unchanged despite global financial uncertainties. The decision not to lower interest rates is a welcome move for the EPFO’s subscribers, for whom provident fund is often …

EPFO retains 8.25 pc interest rate on employees' provident fund deposits for 2024-25
1 month ago

EPFO retains 8.25 pc interest rate on employees' provident fund deposits for 2024-25

Deccan Chronicle  

New Delhi: Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees' provident fund deposits for 2024-25, sources said.In February 2024, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. "The EPFO's apex decision making body Central Board …

EPFO retains 8.25% interest rate on employees' provident fund deposits for 2024-25: Report
1 month ago

EPFO retains 8.25% interest rate on employees' provident fund deposits for 2024-25: Report

Hindustan Times  

The interest rate on employees' provident fund deposits has remained unchanged at 8.25% for 2024-25, PTI reported. The Employees' Provident Fund Organisation, which manages the EPF accounts of over seven crore subscribers, had increased the EPF interest rate from 8.15% in 2022-23 to 8.25% in 2023-24. EPFO has reportedly set an interest rate of 8.25% on EPF deposits for 2024-25, …

EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25
Top News
1 month ago

EPFO retains 8.25 pc interest rate on employees’ provident fund deposits for 2024-25

Live Mint  

New Delhi, Feb 28 Retirement fund body EPFO on Friday retained an interest rate of 8.25 per cent on employees’ provident fund deposits for 2024-25, sources said. In February 2024, the Employees' Provident Fund Organisation had increased the interest rate on EPF marginally to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23. "The EPFO's apex decision making …

EPFO panel to discuss higher pension, new interest rate, changes in insurance scheme
1 month ago

EPFO panel to discuss higher pension, new interest rate, changes in insurance scheme

The Hindu  

A meeting of the Central Board of Trustees of the Employees’ Provident Fund Organisation, scheduled here on Friday, will discuss the interest rate to be recommended for PF deposits for the coming financial year and review the implementation of the Supreme Court order on higher PF pension. Another major issue before the CBT is the implementation of the Supreme Court’s …

EPF withdrawal to become easy? Soon, you can take out money via UPI; Know about proposal, benefits
1 month ago

EPF withdrawal to become easy? Soon, you can take out money via UPI; Know about proposal, benefits

Live Mint  

EPF Withdrawal: The government is considering introducing the Employees Provident Fund claims settlement option via the United Payment Interface to ease the fund withdrawal process. The introduction of an EPF withdrawal facility via UPI or even ATM cards will ensure faster and easier access to savings. Like UPI payments, which have eased the payment process for people, EPF withdrawal via …

EPFO likely to maintain 8.25% interest rate on PF deposits
1 month, 2 weeks ago

EPFO likely to maintain 8.25% interest rate on PF deposits

India Today  

The Employees' Provident Fund Organisation is likely to keep the interest rate on provident fund deposits above 8% and more so around 8.25%, similar to the previous year. People familiar with the matter have hinted that EPFO’s investment and the accounts' committee will review the organisation’s income and expenditure for this financial year and suggest a rate that not only …

EPFO achieves milestone of settling over 5 crore claims in FY 2024-25: Mansukh Mandaviya
1 month, 3 weeks ago

EPFO achieves milestone of settling over 5 crore claims in FY 2024-25: Mansukh Mandaviya

Live Mint  

New Delhi, February 6 : Union Labour and Employment Minister Dr Mansukh Mandaviya has said that Employees' Provident Fund Organisation has achieved a historic milestone by crossing the 5 crore claims settlement mark for the first time in its history in a fiscal year. In the financial year 2024-25, EPFO has processed over 5.08 crore claims amounting to ₹2,05,932.49 crore, …

About 22,000 EPFO members got higher pension, 1.65 lakh asked to contribute additional amount
1 month, 3 weeks ago

About 22,000 EPFO members got higher pension, 1.65 lakh asked to contribute additional amount

Live Mint  

New Delhi, Feb 3 Retirement fund body EPFO has issued 21,885 pension payment orders and asked 1.65 lakh eligible members to deposit additional amount for higher pension, Parliament was informed on Monday. A total of 17,48,768 applications were submitted by members/pensioners for getting higher pension on making higher contribution under Employees' Pension Scheme 1995 run by Employees' Provident Fund Organisation, …

EPF Pension | Kerala HC Restrains EPFO From Reducing Higher Pension Of Petitioners Who Contributed Based On Their Actual Salary
1 month, 4 weeks ago

EPF Pension | Kerala HC Restrains EPFO From Reducing Higher Pension Of Petitioners Who Contributed Based On Their Actual Salary

Live Law  

The Kerala High Court by an interim order directed the Employees Provident Fund Organisation to not reduce the higher pension drawn by certain persons who retired from Travancore Titanium. The Employee Provident Fund Organisation had sent a letter to these employees saying that their pension has been revised as per the pro-rata method of calculation introduced through the 2014 amendment, …

Centre finally notifies Unified Pension scheme option for government staff covered by NPS
2 months ago

Centre finally notifies Unified Pension scheme option for government staff covered by NPS

The Hindu  

Five months after the Centre announced a new Unified Pension Scheme with assured benefits for government employees, the Finance Ministry late on Friday notified the scheme as an option for workers covered by the National Pension System to be effective from April 1, 2025. The NPS, originally known as the New Pension Scheme, did not offer an assured pension to …

Faster PF transfers, direct online claims: Check benefits of new EPFO rules
Trending News
2 months, 1 week ago

Faster PF transfers, direct online claims: Check benefits of new EPFO rules

India Today  

In a landmark move, set to benefit over 65 million subscribers, the Employees’ Provident Fund Organisation has introduced significant reforms to fast-track provident fund transfers. Now, members with fully compliant e-KYC can now self-correct errors online without requiring employer intervention, approval of EPFO or additional documents. The newly introduced measures are expected to minimise the turnaround time, thereby benefiting about …

EPFO simplifies fund transfers, personal detail corrections for members
Trending News
2 months, 1 week ago

EPFO simplifies fund transfers, personal detail corrections for members

India Today  

The Employees Provident Fund Organisation has now made the transfer of provident funds for its members more easy and streamlined with its new update. "To ensure ease of doing for its members, EPFO has simplified the process for the transfer of PF account on change of jobs wherein the requirement to route online transfer claims through either the previous or …

EPFO introduces self-service features for seamless fund transfers
2 months, 1 week ago

EPFO introduces self-service features for seamless fund transfers

India Today  

The Employees’ Provident Fund Organisation has implemented features of improving ease of access for its 7.6 crore members. Those who hold an e-KYC EPF account can now fill out an EPF transfer claim online, using their Aadhar OTA without needing assistance from any employer. Private information such as the name and the date of birth can be altered online without …

Budget 2025: Government may raise minimum EPS pension to Rs 7,500
2 months, 2 weeks ago

Budget 2025: Government may raise minimum EPS pension to Rs 7,500

India Today  

In a move that could significantly impact private sector employees, the government is reportedly contemplating a hike in the minimum monthly pension under the Employees’ Pension Scheme to Rs 7,500. A delegation representing pensioners met Finance Minister Nirmala Sitharaman on January 10, 2025, during a pre-budget consultation, urging an increase alongside additional benefits like a dearness allowance hike and free …

Pensioners’ delegation calls upon Finance Minister; demands ₹7,500 minimum monthly pension under EPS-95
2 months, 2 weeks ago

Pensioners’ delegation calls upon Finance Minister; demands ₹7,500 minimum monthly pension under EPS-95

The Hindu  

A delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on Friday to press for their long-pending demand for a minimum monthly pension of ₹7,500 along with dearness allowance. Under the EPS-95 or Employees Pension Scheme 1995 run by retirement fund body Employees’ Provident Fund Organisation, the existing minimum monthly pension is ₹1,000. Comment: An opportunity to rethink India’s pension …

EPFO's centralised pension payment system fully operational: Know how will CPPS help pensioners?
2 months, 3 weeks ago

EPFO's centralised pension payment system fully operational: Know how will CPPS help pensioners?

India TV News  

The Employees Provident Fund Organization has officially implemented the Centralised Pension Payment System under the Employees Pension Scheme. Minister’s statement: Empowering pensioners nationwide Union Minister Mansukh Mandaviya hailed the development, stating, “This transformative initiative empowers pensioners to access their pension seamlessly from any bank, any branch, anywhere in the country. Key components of CPPS Uniform system : The previous model, …

EPFO members may soon withdraw PF from ATMs | Know who can draw money and how it works
2 months, 3 weeks ago

EPFO members may soon withdraw PF from ATMs | Know who can draw money and how it works

India TV News  

PF withdrawal from ATM: Good news for over 7 crore subscribers of the Employees' Provident Fund Organization! Soon, EPFO members will be able to withdraw their Provident Fund money directly from ATMs. EPFO ATM Card launch date According to Union Labor Minister Mansukh Mandaviya, EPFO ​​will introduce its state-of-the-art software system EPFO ​​3.0 by June this year. According to several …

EPFO withdrawal from ATM to become a reality soon. Here’s how it will work
2 months, 3 weeks ago

EPFO withdrawal from ATM to become a reality soon. Here’s how it will work

Live Mint  

Good news for over seven crore of the Employees’ Provident Fund Organisation subscribers. Members of the retirement fund body EPFO may soon be able to withdraw their provident fund money directly from ATMs after the settlement. EPFO ATM Card launch date EPFO will introduce its cutting-edge software system by June of this year, EPFO 3.0, according to Union Labour Minister …

EPFO begins centralised PF pension disbursal
2 months, 3 weeks ago

EPFO begins centralised PF pension disbursal

The Hindu  

The Employees’ Provident Fund Organisation has completed full-scale implementation of the new Centralised Pension Payments System to provide PF pensions under the Employees’ Pension Scheme. Pension worth ₹1,570 crore, for the month of December 2024, was disbursed to more than 68 lakh pensioners in 122 pension disbursing regional offices, the Union Labour Ministry said in a release on Friday. Paradigm …

EPFO rolls out centralised pension system in all regional offices; 68 lakh pensioners to benefit
2 months, 3 weeks ago

EPFO rolls out centralised pension system in all regional offices; 68 lakh pensioners to benefit

Live Mint  

New Delhi, Jan 3 Retirement fund body EPFO has completed the Centralized Pension Payments System rollout in all its regional offices across the country that will benefit over 68 lakh pensioners, the labour ministry said on Friday. The first pilot of CPPS was completed in October last year in Karnal, Jammu, and Srinagar regional offices with the pension disbursement of …

EPFO 3.0 rollout by June, says Mansukh Mandaviya
2 months, 3 weeks ago

EPFO 3.0 rollout by June, says Mansukh Mandaviya

The Hindu  

Union Labour Minister Mansukh Mandaviya said in Delhi on Thursday that the Employees Provident Fund Organisation will launch its new software system EPFO 3.0 by June this year. Countering the Opposition’s charge of growing unemployment in the country, Mr. Mandaviya claimed that the employment has increased under NDA government when compared to UPA government. According to the Minister, employment in …

EPS rule update: Pensioners can now withdraw pension from any bank branch
2 months, 3 weeks ago

EPS rule update: Pensioners can now withdraw pension from any bank branch

Hindustan Times  

Employees’ Pension Scheme subscribers now have access to their pension from any bank branch in India. Pensioners don't have to visit the branch for any verification and it will be credited immediately upon release The ministry of labour and employment made the announcement in a statement on September 4 last year as part of the newly introduced Centralised Pension Payments …

3 key EPFO rule changes in New Year 2025: What Provident Fund (PF) account holders need to know
2 months, 4 weeks ago

3 key EPFO rule changes in New Year 2025: What Provident Fund (PF) account holders need to know

Live Mint  

3 key EPFO rule changes coming in 2025: The Employees' Provident Fund Organization has made significant announcements regarding its rules and regulations affecting millions of subscribers. 1)EPFO and ESIC subscribers may soon use claim amounts via e-wallets Subscribers of EPFO and ESIC may soon be able to access their claim settlement amounts directly via e-wallets. 2) EPFO Extends Deadline for …

Labour ministry, RBI hold discussions to ease PF withdrawal
3 months ago

Labour ministry, RBI hold discussions to ease PF withdrawal

Hindustan Times  

The Union labour ministry has begun discussions with the Reserve Bank of India and other banks on rolling out new services for subscribers of the Employees’ Provident Fund Organisation, such as direct access to savings deposits through ATMs and e-wallets linked to bank accounts, an official said, requesting anonymity. The labour ministry has also proposed e-wallets where EPFO members will …

EPFO fined ₹1.5 lakh for not revising pension amount
3 months ago

EPFO fined ₹1.5 lakh for not revising pension amount

Hindustan Times  

The State Consumer Disputes Redressal Commission has directed the Employees Provident Fund Organisation, Chandigarh, to pay compensation of ₹50,000 each to three subscribers for not revising their pension without any valid reasons. As per the order, EPFO has been directed to pay for causing mental agony, harassment and unfair trade practice. Krishan Murari and two other employees of Punjab State …

Higher Pension: Employers must submit wage details by January 2025 to get benefits
3 months, 1 week ago

Higher Pension: Employers must submit wage details by January 2025 to get benefits

Live Mint  

The Employees' Provident Fund Organisation provides an online facility for submitting wage details by employers for pensions on higher wages. “A final opportunity is being given to the employers till 31.01.2025 to ensure that employers process and upload these pending Applications for Validation of Option / Joint Options,” EPFO said in a statement. Additionally, the EPFO has also asked employers …

EPFO Extends Deadline For Employers To Process Pending Higher Pension Applications; Check Details Here
3 months, 1 week ago

EPFO Extends Deadline For Employers To Process Pending Higher Pension Applications; Check Details Here

ABP News  

The Employees’ Provident Fund Organisation has extended the deadline for employers until January 31, 2025, to process and upload approximately 3.1 lakh pending applications for the validation of options or joint options under the pension scheme for higher wages. “In spite of so many extensions, it has been observed that more than 3.1 lakh applications for validation of options or …

Will EPF pension be raised soon? Here are parliamentary panel’s recommendations
3 months, 1 week ago

Will EPF pension be raised soon? Here are parliamentary panel’s recommendations

Live Mint  

The Parliamentary Standing Committee on Labour recently recommended that the government raise the minimum pension, which currently stands at ₹1,000, given by the Employee Provident Fund Organisation under its Employee Pension Scheme. In its report tabled in Parliament on December 16, the panel noted that over a decade has passed since the minimum pension of ₹1,000 per month was implemented. …

EPFO 3.0 launching March 2025 to allow withdrawals via ATM-like cards
Trending News
3 months, 1 week ago

EPFO 3.0 launching March 2025 to allow withdrawals via ATM-like cards

India Today  

The Employees’ Provident Fund Organisation is set to unveil its upgraded system, EPFO 3.0, by March 2025, with the goal of simplifying fund access and enhancing grievance redressal mechanisms for its members. According to Labour and Employment Minister Mansukh Mandaviya, the revamped digital platform will allow members to withdraw funds, check account balances, and resolve discrepancies with greater ease. One …

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?
3 months, 1 week ago

EPFO high pension: Why have 1.7 million applied for higher EPS contribution?

India Today  

Over 1.7 million Employees' Provident Fund Organisation members have opted for higher pensions under the Employees’ Pension Scheme, following the Supreme Court’s landmark ruling in November 2022. This ruling has brought significant relief for eligible employees, allowing them to contribute to the scheme based on their actual basic salaries instead of the fixed threshold of Rs 15,000 per month. Under …

EPFO members may soon approve their own PF withdrawals: Report
3 months, 1 week ago

EPFO members may soon approve their own PF withdrawals: Report

India Today  

The Employees’ Provident Fund Organisation is planning to introduce a “self-approval” mechanism for subscribers to withdraw their provident fund money through an automated process. As part of this upgrade, subscribers will soon be able to intimate the EPFO directly about their withdrawal amount, instead of going through the existing manual checks by EPF officers. Sources also revealed that a digital …

The EPFO’s ATM plan is good but it must resolve its pension muddle first
3 months, 1 week ago

The EPFO’s ATM plan is good but it must resolve its pension muddle first

Live Mint  

The country’s principal manager of retirement savings for private-sector employees, the Employees’ Provident Fund Organisation, is working on a facility to let subscribers withdraw funds from their corpus through ATM cards, subject to a limit. While this would be welcome, the EPFO also finds itself being held responsible for a pension crisis that has put about 1.75 million retirees in …

EPFO to offer ATM withdrawals for savings, new features from Jan 2025: official
3 months, 2 weeks ago

EPFO to offer ATM withdrawals for savings, new features from Jan 2025: official

Hindustan Times  

New Delhi: The Employees’ Provident Fund Organisation subscribers will soon have easier access to their savings with new ATM withdrawal facilities. From January 2025, they will be able to withdraw funds up to a specified limit using an EPFO account-linked ATM card, along with other features to improve access, said an official on Saturday. EPFO subscribers will be able to …

EPFO key amendments: Now faster claims and more interest benefits for members
3 months, 2 weeks ago

EPFO key amendments: Now faster claims and more interest benefits for members

India Today  

The Employees Provident Fund Organisation has introduced major changes to provide financial relief and faster claim settlement for Employees Provident Fund members. KEY UPDATE ON INTEREST PAYMENTS EPFO announced that the Central Board of Trustees has approved an important amendment to paragraph 60 of the EPF Scheme, 1952. BENEFITS FOR EPF MEMBERS Speaking to The Economic Times, Puneet Gupta, Tax …

How PF withdrawal from ATMs could benefit you, starting in 2025
3 months, 2 weeks ago

How PF withdrawal from ATMs could benefit you, starting in 2025

India Today  

All servicemen and women with ensured PF accounts will likely be able to withdraw PF directly from ATMs without undergoing lengthy bank procedures. Dawra noted that more than 7 crore workers joined PF coverage since 2017, strengthening India's social security system. The Employees Provident Fund Organisation plans to link PF accounts to an ATM-compatible system, allowing subscribers to access their …

You can withdraw PF from an ATM starting 2025, announces labour ministry
3 months, 2 weeks ago

You can withdraw PF from an ATM starting 2025, announces labour ministry

Hindustan Times  

Starting next year, 2025, EPFO subscribers will be able to withdraw their Provident Fund through ATMs, Labour Ministry Secretary Sumita Dawra announced on Wednesday. The Employees' Provident Fund Organisation currently has over 70 million active contributors. Efforts to extend social security benefits to gig workers are in advanced stages, with a scheme being finalised to include benefits like medical coverage, …

EPFO Provident Fund withdrawals through ATMs: How does it work and what should you expect?
3 months, 2 weeks ago

EPFO Provident Fund withdrawals through ATMs: How does it work and what should you expect?

India TV News  

From 2025, Employees Provident Fund Organization customers will be able to withdraw their Provident Fund directly from ATMs, eliminating lengthy deposit procedures. This move is part of a larger effort to modernise India’s social security services: Enhanced convenience: Subscribers will no longer need to navigate tedious claim-filing procedures or wait for fund disbursal. Expanded social security coverage: Over 7 crore …

PF withdrawals via ATMs likely from 2025. How will it work?
3 months, 2 weeks ago

PF withdrawals via ATMs likely from 2025. How will it work?

India Today  

Starting January 2025, Employees’ Provident Fund Organisation subscribers may be able to withdraw their provident fund savings directly from ATMs. Labour Secretary Sumita Dawra told news agency ANI that the Labour and Employment Ministry is upgrading its IT systems to streamline PF withdrawals and improve service delivery. The government also reaffirmed its commitment to improving social security, including extending benefits …

Discover Related