Union Labor Minister Mansukh Mandaviya said that EPFO 3.0 can start from March 2025. It will be introduced with advanced technology. Under this, it will be easier to settle complaints.
EPFO New System: The Employees Provident Fund Organization (EPFO) is working on a new system these days. Soon PF members will start getting new facilities, which will make many of their tasks easier. It has been named EPFO 3.0. Union Labor Minister Mansukh Mandaviya said that EPFO 3.0 can start from March 2025. It will be introduced with advanced technology.
According to Labor and Employment Minister Mansukh Mandaviya, the new digital platform will allow members to withdraw money, check the amount left in the account and resolve problems more easily. He said that the main target of launching EPFO 3.0 is to simplify access to funds for members and enhance the grievance redressal mechanism.
Complaints will be resolved instantly!
Mandaviya said that people can easily get their money from this new system. The process on the digital platform is being streamlined to make it more robust and accessible, allowing members to check and fix any issues related to their accounts. He further said that 50% of the complaints have been resolved so far.
Money will be withdrawn from ATM
One of the main features of EPFO 3.0 is the introduction of a bank-level complaint redressal system and potential facilities that will enable members to withdraw their funds using the card like an ATM. Although the full details of this facility have not been revealed, it reflects a change towards creating a user-friendly experience.
You will be able to withdraw money from January 2025
At the same time, Labor Secretary Sumita Dawra had said that these facilities can be available as early as January 2025. We are settling claims quickly and working to simplify the process, which will make it easier for the members to live. Dawra said that the goal of this technical improvement is to remove those limitations of the existing system.
These facilities will also be available
The advanced platform will ensure that members can easily manage their accounts online, check their account status and withdraw money when needed i.e. in an emergency. With EPFO 3.0, the organization is set to provide a seamless, efficient and modern experience, giving millions of members better access to their savings.
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