Provident fund: Provident fund money will be in your hand in just a few minutes. Now no form has to be filled to withdraw PF advance money. There will be no long wait of 5 to 15 days. You will be able to withdraw PF money through ATM or UPI. During the Emergency, your money will be with you in a few minutes. The government can process PF advance so easily in this month i.e. June. The biggest advantage of the arrival of the new system will be that a long process like filling and approval to withdraw PF money will end. It will be easy to withdraw PF money from any time and anywhere.
EPFO system will upgrade
There is good news for millions of salary employees of the country. Employees Provident Fund Organization (EPFO) is preparing to upgrade its digital system in a new form. According to media reports, EPFO 3.0 can be launched from June 2025. The most important thing about this new facility is that PF will also be able to remove your funds through account holders UPI and ATM.
What is EPFO 3.0?
EPFO 3.0 is a digital version of the current PF system that has faster, easy and safe than the old system. Till now, one has to login on the EPFO website to remove the PF, fill the form and then wait for several days. But with the arrival of EPFO 3.0, you can get the facility to withdraw money in real time.
How will you be able to withdraw money from ATM and UPI?
Although complete information has not been revealed at the moment, it is believed that PF accounts will be connected to UPI and ATM network under EPFO 3.0. With this, customers will be able to withdraw money directly from their account with the help of UPI apps like PhonePe, Google Pay, Paytm etc. or ATM machine. For this, safety features such as OTP, PIN or Aadhaar -based verification can occur. Also, some conditions and limits will also be fixed so that the fund is not misused. Money can also be saved for employees for retirement.
What will be the benefits of digital withdrawal?
The biggest advantage of the arrival of the new system will be that a long process like filling and approval to withdraw PF money will end. It will be easy to withdraw PF money from any time and anywhere. It will be useful to the employees during the Emergency.
Will EPFO 3.0 be launched in June?
The EPFO 3.0 can be launched in June 2025. However, the official date has not been fixed yet. It is expected that it should be started as a pilot project in some cities or states first and then gradually implemented across the country. If this happens, more than 6 crore PF account holders of the country will get direct benefit.
ITR Filing 2025: By June 2, 54000 taxpayers filed returns, after ITR