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EPFO 3.0: The central government is preparing to make major changes in India’s provident fund system. By the middle of the year 2025, EPFO ​​subscribers will have the facility to withdraw PF money from ATM through debit card. However, there will be a limit on this withdrawal, so that along with withdrawing money in emergency, one can also save a good amount for retirement. These initiatives are part of the government’s ambitious EPFO ​​3.0 plan. The government wants to give employees more control over their savings. In EPFO ​​3.0, the government wants to provide many facilities to the employees.

Limit in PF contribution may be removed

According to reports, the government may remove the 12 percent limit on employee contribution to PF. In this, employees can be given the option to contribute according to their savings. With this, employees can create a bigger fund by depositing more amount in PF. At the same time, the employer’s contribution will be decided according to the salary. At present, employees have to deposit only 12 percent of their basic pay in PF. At the same time, employees can contribute more in EPFO ​​3.0.

PF money will be withdrawn from ATM

In EPFO ​​3.0, employees will get the facility to withdraw PF money through ATM. At the same time, employees have to apply for partial withdrawal. At present, employees can withdraw PF money only under certain special circumstances. Employees can withdraw PF money through EPFO ​​website (https://www.epfindia.gov.in) or Umang App. There was a demand by employee organizations for a long time to increase the amount of pension received in EPF. Now work is expected to be done on increasing the pension amount in EPFO ​​3.0. Crores of employees will benefit from this initiative of the government.

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