Latest news with #PF
India.com
2 hours ago
- Business
- India.com
PF Withdrawal Via ATM, Free ESIC Treatment & More: 5 Major Overhaul In EPFO 3.0; Rollout Likely This Month
photoDetails english 2909765 Updated:Jun 02, 2025, 09:45 AM IST EPFO To Undergo Major Digital Overhaul 1 / 7 Union Labour and Employment Minister Mansukh Mandaviya has confirmed that the Employees' Provident Fund Organisation (EPFO) is all set for a major digital overhaul. The changes were expected to rollout between end of May or June. Since there was no activity on EPFO Version 3.0 last month, it is mostly expected that the new rules might kick in from June 2025. EPFO Version 3.0 2 / 7 EPFO Version 3.0 will undergo numerous changes with regards to auto-claim settlements, digital corrections, and ATM-based fund withdrawals, Mandaviya had told a news agency. Here are looking at 5 such upcoming changes. 1. EPFO Seamless Process 3 / 7 The new version will eliminate the need for complex and lengthy form-filling processes or physical visits for claims and corrections. 2. EPFO A/C Update With OTP verification 4 / 7 Beneficiaries will be able to update their EPFO accounts and mandates using OTP verification and conveniently monitor their pension entitlements or withdraw funds. 3. Integration Of Social Security Schemes 5 / 7 Mandaviya said the government is also considering the integration of various social security schemes, including the Atal Pension Yojana, Pradhan Mantri Jeevan Bima Yojana, and Shramik Jan Dhan Yojana, to streamline and strengthen pension coverage. Beneficiaries under the Employees' State Insurance Corporation (ESIC) will soon be able to receive free medical treatment at hospitals empanelled under the Ayushman Bharat scheme. 4. Charity-Run Private Hospitals Under ESIC Ambit 6 / 7 Designated charity-run private hospitals will also be brought under ESIC ambit to expand social security coverage. Currently, ESIC provides free treatment to about 18 crore people through 165 hospitals, over 1,500 dispensaries and around 2,000 empanelled hospitals. 5. Members To Soon Withdraw PF Through UPI And ATM 7 / 7 The EPFO plans to launch a ground-breaking new PF withdrawal method via the Unified Payments Interface (UPI). Labour and Employment Secretary Sumita Dawra had previously told news agency ANI, the ministry has approved NPCI's recommendation, and members may withdraw PF through UPI and ATM by the end of May or June this year. This may also be a good pilot for members of other schemes like the General Provident Fund (GPF) of Govt Employees of the Public Provident Fund (PPF) of Banks.
The Hindu
2 days ago
- General
- The Hindu
EPFO outreach programme held in Salem
The Nidhi Aapke Nikat (PF near you), the monthly district outreach programme of EPFO, was conducted by the regional office in Salem and district offices in Erode, Namakkal, Dharmapuri, and Krishnagiri districts recently. In the programme, Pension Payment Orders (PPOs) issued under the special campaign for settlement of death claims were handed over to beneficiaries/family members of the deceased members. The officials intimated that any beneficiaries/nominees of the deceased EPF members who are yet to get the statutory benefits under the EPF Act and scheme may approach the regional office in Salem or concerned district offices for suitable guidance to avail the benefits.
The Hindu
2 days ago
- Entertainment
- The Hindu
Casteel bags the Chettinad Stud Plate
S. Narredu trained Casteel (Ramswarup up) won the Chettinad Stud Plate (1,600m), the feature event of the races held here on Saturday (May 31). The winner is owned by M/s. Blazing Saddles (PF), Mr. Balam Mohla, Mr. Teja Gollapudi, Mr. Jehangir Homi Mehta & Mr. S. Narredu. The results 1. CLASSICAL ACT PLATE (1,400m): EL ALAMEIN (Bhawani S) 1, Embosom (Jagadeesh) 2, Sacred Creator (Ramswarup) 3 and Raffles (Trevor) 4. 2-1/2, Shd and 2. 1m 29.35s. Rs. 30 (w), 12, 25 and 15 (p), SHP: 66, THP: 40, FP: 648, Q: 202, Trinella: 1,643/568, Exacta: 2,954/978. Favourite: Raffles. Owners: Mr. Girish S. & Mrs. Kokila E. Trainer: Faraz Arshad. 2. WORLD NO-TOBACCO DAY PLATE (1,400m): SUNSHINE (S. Saqlain) 1, Efficacy (Shreyas S) 2, Knight Regent (Neeraj) 3 and Seneca (Sandesh) 4. 3-1/2, 1 and 5-3/4. 1m 26.72s. Rs. 35 (w), 13, 17 and 72 (p), SHP: 49, THP: 201, FP: 394, Q: 90, Trinella: 3,132/1,708, Exacta: 8,990/5,779. Favourite: Juracan. Owners: Mr. Saleem A. Jasdanwalla, Mr. Deepak S. Suryavanshi & Ms. Ameeta Mehra. Trainer: Irfan Ghatala. 3. ROMANTIC DANCE PLATE (Div. II), (1,400m): AMAZING STRIDE (C. Umesh) 1, Vibrant Queen (P.P. Dhebe) 2, Adelanto (R. Vaibhav) 3 and Pursuit Of Wealth (Sai Kiran) 4. 3-1/2, 1-3/4 and 2. 1m 27.64s. Rs. 18 (w), 10, 26 and 14 (p), SHP: 80, THP: 64, FP: 111, Q: 118, Trinella: 214/65, Exacta: 1,487/637. Favourite: Amazing Stride. Owners: Mr. P.J. Vazifdar, Mrs. P.J. Vazifdar, Mr. M. Rishad, Mr. Kersi H. Vachha & Mr. S.R. Sanas'. Trainer: S. Padmanabhan. 4. MARILINGAIAH MEMORIAL TROPHY (1,200m): DIVINE STAR (Trevor) 1, Walking Thunder (I. Chisty) 2, Aquastic (Suraj) 3 and Grenoble (Hindu S) 4. 6, 1 and 4-1/2. 1m 12.50s. Rs. 21 (w), 14, 17 and 11 (p), SHP: 54, THP: 55, FP: 146, Q: 112, Trinella: 293/78, Exacta: 1,668/893. Favourite: Divine Star. Owners: Mr. Ashok Ranpise, Mr. Pranav Ashok Ranpise, M/s. DT Racing & Breeding LLP, Mr. Rajiv S. Ghule, Mr. S.R. Sanas' & Shaawn Horses & Sports (P)ltd. Trainer: Aman Altaf Hussain. 5. DHARMAPRAKASHA L.S. VENKAJI RAO MEMORIAL TROPHY (1,400m): MAYNE MAGIC (Antony) 1, Secret Saint (Trevor) 2, Arkadian (S. Saqlain) 3 and All Attraction (G. Vivek) 4. 1/2, Lnk and 2-1/4. 1m 25.61s. Rs. 23 (w), 14, 14 and 17 (p), SHP: 41, THP: 49, FP: 100, Q: 67, Trinella: 192/66, Exacta: 326/176. Favourite: Mayne Magic. Owners: Mr. Eugene Aloysious Mayne & Mrs. Joan Mayne. Trainer: Kishan Thomas K. 6. CHETTINAD STUD PLATE (1,600m): CASTEEL (Ramswarup) 1, Champions Way (Suraj) 2, Star Of Night (Neeraj) 3 and Mescalito (Trevor) 4. 1/2, 2-1/2 and 2-1/2. 1m 39.08s. Rs. 66 (w), 27 and 13 (p), SHP; 31, THP: 39, FP: 233, Q: 78, Trinella: 270/120, Exacta: 656/175. Favourite: Champions Way. Owners: M/s. Blazing Saddles(PF), Mr. Balam Mohla, Mr. Teja Gollapudi, Mr. Jehangir Homi Mehta & Mr. S. Narredu. Trainer: S. Narredu. 7. ROMANTIC DANCE PLATE (Div. I), (1,400m): STENTORIAN (Shezad Khan) 1, Star Honour (Darshan) 2, Eclipse Pulse (Asirvatham) 3 and Highland Dream (I. Chisty) 4. Not run: Monterio. 1, 3-1/2 and Nose. 1m 27.25s. Rs. 32 (w), 14, 12 and 31 (p), SHP: 34, THP: 89, FP: 65, Q: 40, Trinella: 969/429, Exacta: 6,903/1,643. Favourite: Star Honour. Owners: Dr. Prabhakar Chowdary Tripuraneni, Mr. Teja Gollapudi & Mrs. Radhika Narredu. Trainer: S. Narredu. Jackpot: Rs. 1,422 (267 tkts) Runner-up: 235 (692 tkts); Treble (i): 137 (72 tkts); (ii): 611 (24 tkts).
News18
2 days ago
- Business
- News18
EPFO 3.0: When Will PF Withdrawal Via UPI, ATM Begin? All You Need To Know
Last Updated: One of the most-anticipated features of the EPFO 3.0 is the ability for EPF subscribers to withdraw funds via UPI and ATM, which could revolutionise how PF is managed and accessed. In a significant step towards enhancing funds accessibility for salaried employees, the Employees' Provident Fund Organisation (EPFO) is likely to launch EPFO 3.0 in June 2025, according to a DD News report. One of the most anticipated features of this digital transformation is the facility for EPF subscribers to withdraw funds using UPI and ATMs, potentially revolutionising provident fund (PF) account management and access. What is EPFO 3.0? EPFO 3.0 represents a comprehensive digital upgrade to the current EPF system. While existing systems require members to log in through the EPFO portal and submit claims processed over several days, version 3.0 is expected to significantly reduce turnaround time and offer real-time access to funds through user-friendly platforms like ATMs and UPI apps. This marks a shift from a partially manual process to a seamless digital interface. How Will ATM and UPI Withdrawals Work? Though the precise operational details are awaited, the EPFO 3.0 upgrade is expected to integrate PF accounts with the broader financial infrastructure supporting the Unified Payments Interface (UPI) and ATM networks. This would allow subscribers to withdraw eligible EPF funds directly via UPI apps or bank ATMs, possibly using a secure PIN or Aadhaar-based verification. Withdrawal limits and conditions are likely to be implemented to ensure fund safety and compliance. Benefits of Digital Withdrawals Experts suggest the new digital withdrawal methods promise multiple benefits. Firstly, it enhances convenience by eliminating paperwork and lengthy waiting periods. Secondly, it enables anytime, anywhere access to EPF savings, crucial in emergencies. Thirdly, it aligns with the broader vision of Digital India and financial inclusion by integrating government-backed savings schemes with the digital financial ecosystem commonly used by most Indians. Implementation Timeline and Future Outlook As per the DD News report, the launch of EPFO 3.0 is anticipated in June 2025, though an official confirmation of the date is pending. A phased rollout or pilot testing in select regions may precede nationwide implementation. This development is likely to impact over six crore EPF account holders across India. First Published:
Time of India
3 days ago
- Business
- Time of India
EPFO likely to allow instant PF withdrawals via UPI and ATMs from June 2025
The Employees' Provident Fund Organisation (EPFO) is set to revolutionize the way millions of employees access their provident fund (PF) savings. Starting June 2025, EPF members will be able to instantly withdraw PF funds via Unified Payments Interface (UPI) and ATMs, according to DD News. This major step is being implemented with the support of the Ministry of Labour and Employment and has already received approval from the National Payments Corporation of India (NPCI). The new facility will also allow users to check their PF balance directly on UPI platforms and transfer funds to their bank accounts without delays. Instant PF withdrawals under EPFO 3.0 Currently, PF withdrawals involve submitting online claims followed by a waiting period for approval from EPFO field offices. This process can take several days or even weeks. However, the upcoming integration with UPI and ATMs is expected to make settlements instantaneous. Members will be allowed to withdraw up to ₹1 lakh instantly—especially helpful in emergencies. 'EPFO has made significant improvements in its digital infrastructure by integrating over 120 databases,' said Sumita Dawra, Secretary at the Ministry of Labour and Employment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo 'These efforts have reduced claim processing time to just three days, with 95 per cent of claims now being processed automatically. Further upgrades are also in progress to make the system even more efficient.' Expanded withdrawal purposes Currently, the EPF scheme allows withdrawals for medical emergencies, housing, education, and marriage, but members must meet specific eligibility criteria and provide proper documentation. With the upcoming changes, the scope of permitted withdrawal reasons will be expanded, giving employees greater financial flexibility for key life events. In another significant development, pensioners under the Employees' Pension Scheme (EPS) of 1995 will be able to access their pensions from any bank branch across India starting January 1, 2025. This means retirees will no longer be restricted to specific banks or branches. Even if a pensioner relocates or changes banks, pension disbursal will continue seamlessly through the Centralised Pension Processing System (CPPS), eliminating the need to transfer Pension Payment Orders (PPO) between offices. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
