EPFO 3.O: New software launch by June: Govt to issue new ATM cards

EPFO 3.0 is a digitalized way of improving technology so that the Employee Provident Fund (EPF) members will get an enhanced experience, accessibility, streamlining process and many other features. The objective is to empower employees with greater control over their retirement funds.

Key Highlights:

EPFO 3.0 Launch: The advanced upgraded software is set to launch by June 2025, and the software will provide a more efficient and user-friendly interface than the country’s banking systems.

Issue of ATM cards: The Union Labour minister has also announced for the issuance of ATM cards along with EPFO for the members. This would provide easy accessibility and flexibility to the members for direct access to their Employee Provident Fund.

As per Labour Secretary Sumita Dwara, the new digitalized initiative would help all subscribers and insured individuals withdraw their PFs through ATMs by 2025.