If you're depositing your PF with a company, this is important. This is big news for the millions of members of the Employees' Provident Fund Organization (EPFO). The central government is making major changes to the EPFO's digital system, and under EPFO ​​3.0, many PF-related services will become faster and digital. This will help reduce the time required for PF claims.

The EPFO ​​has transferred its member database to the centralized IT system, the CITES platform. This creates a centralized database for members across the country and makes PF services more easily accessible.

What are the 5 major changes in EPFO ​​3.0?

Facility to withdraw PF through UPI and ATM

Members will be able to withdraw a portion of their eligible PF amount through UPI or a UPI-enabled ATM, subject to terms and eligibility conditions. Transactions can be made using a UPI PIN.

Auto-settlement limit ₹5 lakh

The EPFO ​​has increased the auto-settlement limit from ₹1 lakh to ₹5 lakh. Eligible claims for illness, education, marriage, or housing needs will be processed faster.

Face Authentication in UMANG App

Face authentication in the UMANG app will make it easier to create or activate UAN, view passbook, correct information and file online claims.

Claim rejection rate will be lower

In the new digital system, members will be able to see upfront the amount they are eligible to withdraw based on their status. This will reduce the chances of filing a claim for the wrong amount and having it rejected.

Online clarification facility

If the EPFO ​​office requires additional information during the claim process, members will be able to provide the necessary clarifications or information online. Meanwhile, an interest rate of 8.25% has been approved on EPF and VPF for FY26. With EPFO ​​3.0, efforts are being made to make PF management more digital, faster, and easier for members. However, actual availability, eligibility, and withdrawal limits will be subject to applicable regulations.

 PC:Rochak Khabre